Annuities enable you to receive a guaranteed life-long income once you leave the workforce.
You can use annuities to supplement other income options, such as RRSPs and increase your financial security in your later years.
You can buy an annuity with money from an RRSP, RRIF or other non-registered account. The money is then returned to you, with interest, in regular payments that you can choose to receive for a set number of years or for the rest of your life. You can also decide how often you would like to receive payments—monthly, quarterly, semi-annually or annually—depending on your specific situation.
Types of annuities
Community Savings has partnered with G&F Financial Group and insurance products are offered through G&F Financial Group Insurance Services Ltd., a wholly-owned subsidiary of G&F Financial Group. This website is for informational purposes only and is not intended to provide specific insurance, financial, investment, tax, or other advice to you, and should not be acted or relied upon in that regard. Insurance products are underwritten by certain licensed insurance companies and are only available throughout British Columbia, Canada.