See your potential income from an annuity and how it compares to a Registered Retirement Income Fund (RRIF).

An annuity is a simple and effective income solution that can only be purchased from an insurance company. In exchange for a single deposit, you will receive guaranteed income for life – just like a pension.

Why get an annuity?

  • High, Guaranteed income for life—you'll never outlive your retirement assets
  • Payments are locked in once you buy your annuity - you never have to worry about market fluctuations or interest rates
  • You never have to actively manage investments or watch the market

When to get an annuity?

If you’re retired or planning to retire soon, it’s a good time to look into an annuity.

Before December 31 in the year you turn 71, you must convert your RRSP to a retirement income option. You can convert it to an annuity, or roll your funds over to a Registered Retirement Income Fund (RRIF).

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This tool is for illustration purposes only, speak with an advisor to find out what is right for you.
RRIF minimum withdrawal rates - based on Jan 1 value of funds in RRIF account.
**POA income values assessed November 15, 2022 - 10 year guarantee period, with a one month deferral.
Annuities are designed to provide you with guaranteed income for life and are not for estate protection. You may elect to guarantee payments for a certain length of time (e.g. 10 years), however, once this period expires, there is no residual market value to pass on to your estate or beneficiaries.