What sources of funds can be used to purchase an annuity?

Souces such as registered and non-registered funds

By Ivon T Hughes
canadian money
Figure 1. Canadian Money

Non-Registered Annuities can be purchased with:

  • Savings Account
  • Chequing Account
  • Bonds
  • Guaranteed Investment Certificates (GICs)
  • Tax Free Savings Account (TFSA)
  • Stocks, Mutual, and Segregated funds outside RRSP's

Registered Annuities can be purchased with:

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