What Source of Funds Are Used To Buy An Annuity?

Registered and Non-Registered Fund Types

By Ivon T Hughes
source of funds
Figure 1. Source of funds

For registered annuities:

  • Registered Retirement Savings Plan (RRSP)
  • Locked-in RSP (LRSP)
  • Locked-in Retirement Account (LIRA)
  • Registered Pension Plan (RPP)
  • Deferred Profit Sharing Plan (DPSP)
  • Registered Retirement Income Fund (RRIF)
  • Life Income Fund (LIF)
  • Locked-in Retirement Income Fund (LRIF)
  • Prescribed Retirement Income Fund (PRIF)

For non-registered annuities:

  • Funds in a Savings Account
  • Funds in a Chequing Account)
  • TFSA
  • GIC or Bond
  • Stocks or Mutual Funds outside RRSPs
Ivon T Hughes

About the Author

Ivon T. Hughes

Ivon T Hughes is a leading expert in life annuities in Canada. His website LifeAnnuities.com is a recognized authority on annuities. He's also an established insurance and investment broker, through The Hughes Trustco Group since 1972. Recently, he's been redefining how annuities are sold in Canada.

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