John Hancock Income Funds

Supplement to the Class A, B and C Shares Prospectus

dated September 15, 2005, as revised April 1. 2006

John Hancock Strategic Income Fund

Effective, August 31, 2006, the “Portfolio Managers” section on page 13 of the above prospectus is deleted and replaced with the following:

Portfolio Managers

Daniel S. Janis, III

Joined fund team in 1999

Primarily responsible for fund management and day-to-day purchase and sale decisions

John F. Iles

Joined fund team in 2005

Analysis of specific issuers pertaining to high yield and emerging markets

Barry H. Evans

Joined fund team in 2006

Analysis of global economic conditions

In addition, on page 25 of the above prospectus, the Management Biography for Frederick L. Cavanaugh, Jr. is deleted.

INCPS5 8/06 August 9, 2006

John Hancock Income Funds

Supplement to the Institutional Class I Shares Prospectus

dated September 15, 2005, as revised April 1, 2006

John Hancock Strategic Income Fund

Effective, August 31, 2006, the “Portfolio Managers” section on page 13 of the above prospectus is deleted and replaced with the following:

Portfolio Managers

Daniel S. Janis, III

Joined fund team in 1999

Primarily responsible for fund management and day-to-day purchase and sale decisions

John F. Iles

Joined fund team in 2005

Analysis of specific issuers pertaining to high yield and emerging markets

Barry H. Evans

Joined fund team in 2006

Analysis of global economic conditions

In addition, on page 18 of the above prospectus, the Management Biography for Frederick L. Cavanaugh, Jr. is deleted.

KICPS4 8/06 August 9, 2006

John Hancock Retirement Funds

Supplement to the Class R Shares Prospectus

dated March 1, 2006

John Hancock Strategic Income Fund

Effective August 31, 2006, the “Portfolio Managers” section on page 15 is deleted and replaced with the following:

Portfolio Managers

Daniel S. Janis, III

Joined fund team in 1999

Primarily responsible for fund management and day-to-day purchase and sale decisions

John F. Iles

Joined fund team in 2005

Analysis of specific issuers pertaining to high yield and emerging markets

Barry H. Evans

Joined fund team in 2006

Analysis of global economic conditions

In addition, on page 27 of the above prospectus, the Management Biography for Frederick L. Cavanaugh, Jr. is deleted.

MFRPS9 8/06 August 9, 2006