Thursday, November 21, 2024
Joint Annuity Rates
Registered
( RRSP, RRIF, RPP, LIRA, LIF, LRIF)
No guarantee
10 yr guarantee
20 yr guarantee
Non-Registered
(Savings Accounts, GIC, TFSA, etc.)
No guarantee
10 yr guarantee
20 yr guarantee
Guarantee Period Option
No Guarantee
A joint life annuity with no guarantee provides guaranteed income payments as long as you and your spouse live, but the payments stop at the second death.
With a Guarantee
A joint life annuity with a guaranteed period provides guaranteed income payments for as long as both annuitants live. For non-registered funds payments can continue to the beneficary until the guarantee period ends. For registered funds any remaining guaranteed payments after the second death are assessed a present-day value and taxed then distrubuted to the beneficiaries.
