Simple Retirement Income Options
The income payments you receive are made up of interest and principal and are determined based on:
- Your age (and in certain cases, your spouse’s age), for life annuities
- Current interest rates
- The length of time the payments are guaranteed
- The amount of money used to purchase the annuity
A Steady Stream of Payments to You
Select the life income option and you will enjoy a steady retirement income from your pension funds along with the security that you will never outlive your money. Since the Issuer, the insurance company is managing your money, you won’t have to worry about market fluctuations or other investment management decisions. You can relax while we do the work.
Payments Guaranteed by The Insurance Company
Your income payments are guaranteed by the Issuer, Life Insurance company regardless of the ongoing economic conditions. They manage the money used to purchase your annuity so you’re not burdened with any investment decisions.
Your annuity payments will be taxed as income in the year that they are received, for registered funds. For non-registered funds, only a portion of each payment is taxed each year.