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This website is solely about Canadian Annuities and how they fit into your retirement plans. The index on the left side of each page of this website allows you to navigate to areas that are of interest to you. If you are not certain, then by clicking on the button for "Frequently Asked Questions" might narrow your search. If you still do not find what you want, simply pick up your telephone and call toll free to John Beaton at 1-800-667-8818.

Take charge of setting up your retirement now so that you don't have to worry later about where your income is coming from. If your family history is long lived then the choice of an annuity that removes any need for decisions in later life is a good one. By the time you retire, hopefully you will have accumulated investment assets that will augment your retirement income. Some forms of income will be fully taxable such as Canadian government benefits like Old Age Security which start at your age 65 and Canada Pension Plan benefits which could start as early as age 60. You may also have accumulated tax deferred income in an RRSP for which you have taken tax deductions from your past income during your working years. Some of you will be calculating the conversion of the value of your home into preferred or possibly fully non-taxable retirement income.

When you start taking income from your RRSP, you have at latest to make an election by age 71 whether to turn that RRSP into a registered retirement income fund [RRIF] or into a registered life annuity. You may decide to have part of your income in the form of a RRIF so you can access lump sums for emergencies and part of your income in guaranteed level income for life to protect your basic needs in retirement such as home expenses and food.

You can defer taking any registered income from your RRSP, RRIF or Registered Anuity, until your age 72.

Life annuities, insured life annuities, indexed life annuities, cash back annuities and term certain annuities all have their place in planning a structured retirement income. Insured life annuities and cash back annuities provide less taxable income with protection of your capital. Indexed annuities provide for guaranteed increasing annual income over a person's lifetime. The bottom line is that guaranteed income benefits of annuities will reduce any your anxieties over the risk of outliving your retirement savings and ending up in poverty.

You may also have accumulated non-registered savings which you are holding in term deposits, or simply low interest or non-interest chequing-savings bank accounts. If your savings are earning interest income, then you will pay tax on that income. There are opportunities for you to lower your taxable income by examining the benefits of annuities in comparison with other higher taxed forms of income. You may find that an important aspect of having non-registed savings in a non-registered life annuity as part of a retirement portfolio is the potential for lowering taxable income. The current legislation pertaining to Old Age Security benefits requires that the government "claw back" some of that benefit starting at an income level of about $70,000. For every dollar of total income that exceeds the $70,000 threshold, Old Age Security income, reduces by $0.15. If you fall into this higher income bracket, this translates into approximately a 15% additional tax which cannot ever be re-claimed.

Decide to purchase a life annuity, and you will not have to worry about this source of income for the rest of your life. A life annuity provides a no maintenance, unbreakable income stream that guarantees the annuity income you have purchased will be paid to your for the rest of your life. There is no investment risk and nothing to oversee. Once a life annuity is issued in your name, you can count on the payments not changing in amount or frequency for the rest of your life. Economic conditions or investment returns may change, but the payments from your annuity are guaranteed to remain the same for the rest of your life. Throughout the rest of your life you will enjoy the financial security of a guaranteed income you cannot outlive.

Use the annuity navigation buttons at the left of this page to find out more about annuities and to request a free no obligation survey of current guaranteed Canadian annuity rates.

Sorry, only Canadians with their own Social Insurance Number can purchase Canadian life annuities. Non-Canadian, non-residents of Canada cannot purchase Canadian annuities in any form.


Canadian Annuity Broker Services
White Rock, B.C. V4B 1P9
Tel: (604) 535-2404
Toll Free Canada: 1-800-667-8818
Website: http://www.annuitybrokers.ca
E-mail: john@annuitybrokers.ca

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