Ready to convert your RRSP savings into retirement income?
This quick calculator lets you compare your potential income from an RBC® Payout Annuity and a Registered Retirement Income Fund (RRIF).
Please tell us a bit about yourself:
Ready to Convert Your RRSP Savings into Retirement Income?
This quick calculator lets you compare your
potential income from an RBC® Payout Annuity and a Registered Retirement Income Fund (RRIF).
Based on what you've told us, here are the potential payments you could receive from an RBC Payout Annuity vs. a RRIF:
Estimated Life Expectancy
Estimated Life ExpectancyYour life expectancy is estimated based on your gender and the type of activity level you selected in Step 1.
(Based on an lifestyle for a )
Your Annuity Payments
Your Annuity PaymentsThis is the sum of your annuity payments from the date you purchase your RBC Payout Annuity to the age estimated as your life expectancy.
(Total Annuity Payments to Age )
Your RRIF Withdrawls
Your RRIF WithdrawalsThis is the sum of your minimum RRIF withdrawals from the date you open your RRIF to the age estimated as your life expectancy. This number is calculated based on the opening amount of your RRIF and the RRIF Annual Withdrawal option you selected in Step 1.
(To Age Based on )
An Annuity Provides More Income
As you can see, your total annuity payments would be greater than the total value of your RRIF withdrawls.
Financial Benefit of an Annuity
Financial Benefit of an Annuity Compared to a RRIFThis is the difference between your total potential RBC Payout Annuity payments and your total RRIF withdrawals.
(More income for you throughout retirement):
Annual Income (Guaranteed for Life)This is the amount of income you could receive from an RBC Payout Annuity on an annual basis for the rest of your life. The assumption for this payout is a 70 year old client depositing RRSP funds with the annual payout mode selected and a 10-year guarantee. The 10-year guarantee means that your named beneficiary will be entitled to the remaining annuity payouts for up to 10 years (or age 80) in the event you pass away before turning 80.
(Guaranteed for life):
Talk to an Advisor Today
See how an RBC Payout Annuity can provide you with guaranteed income for life.
Please review the following disclaimers