Annuities For Expatriates

Clients living outside Canada or intending to retire abroad need to know the tax obligations they may incur when presently holding or intending to purchase, life annuities or the like, with monies from RRSP’s, LIRA’s, Registered Pension Plans (RPP), RRIF’s and the like. Please complete our annuity form and email us with any extra details you feel we should know, if this paragraph describes you.

Many Canadian expat clients  draw pension incomes from registered pension plans, LIRA’s life annuities and RRIF’s.

But what if the pension plan holder or annuitant is living abroad, after his working life has finished, but before commencing payments from his pension plan, RRSP or from non-registered savings?

How Do Annuities Differ For Expatriates?

Really not at all. Each person chooses the best quote for him or her from the list of life annuity quotes we supply. The monthly payments are deposited in a Canadian bank account, with the payment being transferred automatically to their local bank. Probably the area that needs the most attention is the  sending of documents by courier which would include life annuity forms, T2033 transfer forms, ID’s and the like. Strict attention to the various ways courier services work in the particular expat country is important.

We have clients living in the US, UK, Albania, France and various other countries giving us experience in dealing with all sorts of situations involving pensions, RRSP’s, life annuities and retirement plans.