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    Posted by: Phil Barker
  • 12 years ago
    • Categories: Retirement

Sources of funds that can be used to purchase an annuity

Below is a list of funds that can be used to purchase an annuity contract.

 

 

A) Registered Funds List

• 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)

B) Non-registered Funds

Can be on a “prescribed” or “non-prescribed” taxation basis

 

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Posted by: Phil Barker: Phil is a leading expert in life annuities in Canada. His website Life Annuities.com is a recognized authority on annuities. Recently, he's been redefining how annuities are sold in Canada.