Annuities
Convert savings into predictable guaranteed income.
What annuities do
An annuity converts savings into regular income. Depending on the structure, income can last for a fixed period or for life, helping manage longevity risk.
Common uses
- Creating guaranteed retirement income
- Reducing investment volatility in later years
- Covering core expenses like housing and food
- Complementing RRIF, CPP, and OAS income
Key choices
- Immediate vs deferred income start
- Income style: level vs increasing vs market-linked
- Guarantee periods, joint options, and beneficiary features
- Tax treatment (registered vs non-registered funds)