In Canada, most people won’t retire with a guaranteed pension. That’s why annuities are becoming a powerful tool in retirement planning — offering steady, dependable income even when markets are uncertain.
Let’s explore how annuities can give you a “retirement paycheck.”
1. What’s an Annuity in Canada?
An annuity is a financial product offered by an insurance company. You invest a sum of money (registered or non-registered), and in return, you receive scheduled income payments.
There are:
- Life Annuities (pay for life)
- Term Certain Annuities (pay for a fixed number of years)
- Prescribed Annuities (tax-efficient for non-registered funds)
Why Consider One?
- Stable income regardless of stock market changes
- Predictability for essential expenses (rent, groceries, etc.)
- Peace of mind in retirement
You may also combine annuities with RRIFs or TFSAs to balance growth and income.
How It Works With Canadian Retirement Accounts
- You can buy annuities with RRSP, RRIF, or non-registered funds
- Payments from a RRIF may fluctuate — but an annuity locks in steady income
- A Prescribed Annuity can minimize taxes if purchased with non-registered funds
Protection Against Longevity Risk
People are living longer — and that increases the risk of running out of money. Annuities provide guaranteed income for life, making them a strong option if you want lasting financial security.
How Veracity LD Can Help
Veracity LD helps Canadians create income for life with annuities, insurance, and smart planning. We help you understand which option matches your needs — so you can retire confidently, not cautiously.
📞 Canada: +1 (438) 871-4889
📧 info@veracityld.com
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