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Does new RRIF legislation in the 2015 budget help you?

RRIF: Changes to the RRIF minimum withdrawal amounts are designed to let you preserve more of your retirement savings and most companies will adjust your minimum income as of January 1 2016.

2015-rrif-minimum-withdrawals-smBut if you are drawing income from a RRIF/LIF, you could benefit from reduced minimums starting now.

While a RRIF now allows you to shelter more capital it results in less income . And is that what you want? All tax sheltered income is taxable at the 2nd death of a couple, so is taking less worthwhile? You can leave tax-paid capital and goods to your beneficiaries, so it is your tax sheltered investments that you should use before you use any non-registered funds.

Click here for the Best 2015 RRIF Interest Rates

TFSA: Thanks to proposed budget changes, you can now contribute up to $10,000 annually to a TFSA (Tax-Free Savings Account). Boost your contribution to enjoy increased tax-free savings.

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Canadian annuity rates are best in the world?

One of the largest UK papers, The Daily Telegraph, has just released a report “UK retirement vs the best in the world” that says 2 important things about the annuity market in Canada. It compares various statistics from our website LifeAnnuites.com with figures gleaned from other world sources.

Firstly, like the UK but not necessarily elsewhere, pensions are directed to the purchase of annuities but also allow for drawdown products like a RRIF. An annuity guarantees you an income for all your life but a RRIF can be drawn down to zero, leaving you with no income at the end of your life. And here it is important to remember that the difference between an old man and elderly gentleman, is money.

Secondly here in Canada, annuity rates are better, possibly because annuities are issued with less bells and whistles.  In the UK and elsewhere, annuity issuers can differentiate between smokers and non-smokers and those with health problems. All these procedures take time and money spent elsewhere is not available for you.

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2013 Canadian Best GIC & RRSP Interest Rates

How to get the best GIC & RRSP interest rates in Canada?

Our GIC & RRSP interest rates tables compare the Best Interest Rates in Canada. Canadians who want to invest in Guaranteed Investment Certificates (GIC) or Registered Retirement Savings Plans (RRSP) can choose from the list of the best interest rates from all the Canadian banks, trust companies, credit unions and insurance companies in Canada.

2013 GIC Interest Rates (GIC non-registered)

Best GIC Interest rates as of January 29, 2013

Financial Institution MinimumDeposit Term in Years
1 2 3 4 5
Bank of Montreal Agt S. 1,000 1.150 1.300 1.400 1.600 2.050
Bank of Nova Scotia Agt 1,000 1.450 1.700 1.900 2.200 2.350
Canadian Tire Bank Agt. 5,000 1.350 1.700 1.900 2.000 2.400
Canadian Western Bank 5,000 1.500 1.900 2.050 2.200 2.350
Coast Capital Svgs Agt. 1,000 2.000 2.100 2.250 2.350 2.500
Concentra Fin. Agt Ser. 10,000 1.150 1.300 1.400 1.600 2.000
HSBC Bank Canada Agt. S 5,000 1.550 1.900 2.000 2.200 2.400
HSBC Mortgage Corp. Agt 5,000 1.550 1.900 2.000 2.200 2.400
HSBC Trust Agent Servic 5,000 1.550 1.900 2.000 2.200 2.400
ICICI Bank Canada 1,000 .250 .500 1.000 1.000 1.000
Laurentian Bk Agent Ser 1,000 1.450 1.900 2.050 2.150 2.350
Montreal Trust Agt. Ser 1,000 1.450 1.700 1.900 2.200 2.350
NatCan Trust Agent Ser. 1,000 1.550 1.900 2.050 2.250 2.450
National Bank Agent Ser 1,000 1.550 1.900 2.050 2.250 2.450
National Trust Agent S. 1,000 1.450 1.700 1.900 2.200 2.350
Royal Bank 5,000 1.450 1.700 1.900 2.150 2.300
Scotia Mtge Corp. Agt. 1,000 1.450 1.700 1.900 2.200 2.350
Vancity Savings 5,000 1.650 1.750 2.100 2.150 2.250
AGF Trust 5,000 1.450 1.900 2.050 2.150 2.350
ATB Financial 1,000 1.400 1.550 1.750 1.650 2.000
AcceleRate Financial 1,000 2.050 2.250 2.450 2.600 2.850
Achieva Financial 1,000 2.050 2.250 2.450 2.600 2.850
Advisor’s Advantage Tr. 1,000 1.450 1.550 1.800 2.050 2.200
Alterna Bank 500 1.450 1.750 1.950 2.000 2.300
Alterna Savings 500 1.450 1.750 1.950 2.000 2.300
B2B Bank 1,000 1.450 1.900 2.050 2.150 2.350
Bank West 5,000 1.500 1.800 1.950 2.050 2.100
Boomerang Credit Union 500 1.100 1.200 1.350 1.600 1.900
Caisses Desjardins 1,000 .900 1.200 1.250 1.600 1.750
Canada Life 1,000 .800 1.050 1.200 1.250 1.300
Canadian Western Trust 5,000 1.250 1.350 1.600 1.850 2.200
Community Trust 1,000 1.200 1.550 1.750 1.800 2.050
DUCA Financial Services 500 1.450 1.700 1.900 2.000 2.250
Desjardins Fin. Security 500 1.050 1.150 1.450 1.650 1.850
Dundee Bank of Canada 1,000 1.450 1.700 1.900 2.200 2.350
Effort Trust 5,000 1.600 1.900 2.100 2.200 2.350
Empire Life 500 1.250 1.625 1.875 1.875 2.000
Equitable Life 500 .700 1.750 2.000 1.550 1.600
Equitable Trust 5,000 1.500 1.800 2.000 2.100 2.400
Equity Financial Trust 5,000 1.650 1.900 2.100 2.150 2.250
Fiducie Desjardins 1,000 .900 1.200 1.250 1.600 1.750
First Calgary Financial 500 1.250 1.650 1.950 2.000 2.300
FirstOntario Credit Un. 500 1.600 1.650 1.900 2.100 2.400
General Bank of Canada 5,000 1.500 1.750 1.900 2.000 2.200
Great-West Life 500 1.050 1.300 1.450 1.500 1.550
HomEquity Bank 5,000 1.500 1.850 1.900 2.100 2.500
Home Trust Company 5,000 1.650 1.900 2.100 2.250 2.450
ING Bank of Canada (CFN) 5,000 1.500 1.850 2.000 2.150 2.350
Industrial Alliance 1,000 .900 1.450 1.850 1.900 1.950
Korea Exchange Bank 3,500 1.400 1.700 1.850 2.000 2.150
Libro Financial Group 1,000 1.100 1.600 1.750 1.950 2.100
London Life 10,000 1.050 1.300 1.450 1.500 1.550
MAXA Financial 500 2.050 2.250 2.450 2.600 2.850
MCAN Mortgage Corp. 5,000 1.750 2.050 2.000 1.650 1.950
Manulife Bank 2,500 1.400 1.650 2.000 2.250 2.450
Manulife Investments 2,500 1.550 1.800 1.950 1.950 1.950
Manulife Trust 2,500 1.400 1.650 2.000 2.250 2.450
MonCana Bank of Canada 5,000 1.200 1.500 1.700 1.800 1.900
Outlook Financial 1,000 2.050 2.250 2.450 2.600 2.850
PACE Savings & Credit Un 1,000 1.200 1.500 1.600 1.750 2.100
Pacific & Western Bank 1,000 1.660 1.850 2.050 2.150 2.350
Parama Credit Union 1,000 1.600 1.750 2.000 2.100 2.300
Peace Hills Trust 1,000 1.450 1.850 2.050 2.100 2.250
Peoples Trust 5,000 1.660 1.800 1.950 2.000 2.200
President’s Choice Bank 500 .850 1.300 1.700 1.850 2.050
ResMor Trust 10,000 1.400 1.800 2.000 2.100 2.300
Servus Credit Union 1,000 1.150 1.300 1.400 1.600 2.000
Standard Life 1,000 1.500 1.700 1.875 1.950 2.000
Sun Life – Insurance 1,000 1.300 1.600 1.700 1.850 2.000
Sun Life – Trust 1,000 1.500 1.850 2.000 2.200 2.450
Teachers Credit Union 500 1.400 1.650 2.100 2.350 2.500
Windsor Family C.U. 500 .900 1.300 1.400 1.600 2.100
Your Neighbourhood C.U. 500 1.700 1.850 1.950 2.100 2.350

2013 RRSP Interest Rates (GIC registered)

Best RRSP Interest rates as of January 29, 2013

Financial Institution MinimumDeposit Term in Years
1 2 3 4 5
Bank of Montreal Agt S. 1,000 .010 .010 .010 .010 .010
Bank of Nova Scotia Agt 1,000 1.450 1.700 1.900 2.200 2.350
Coast Capital Svgs Agt. 1,000 2.000 2.100 2.250 2.350 2.500
Concentra Fin. Agt Ser. 10,000 1.150 1.300 1.400 1.600 2.000
HSBC Bank Canada Agt. S 5,000 1.550 1.900 2.000 2.200 2.400
HSBC Mortgage Corp. Agt 5,000 1.550 1.900 2.000 2.200 2.400
HSBC Trust Agent Servic 5,000 1.550 1.900 2.000 2.200 2.400
ICICI Bank Canada 1,000 .250 .500 1.000 1.000 1.000
Laurentian Bk Agent Ser 1,000 1.450 1.900 2.050 2.150 2.350
Montreal Trust Agt. Ser 1,000 1.450 1.700 1.900 2.200 2.350
NatCan Trust Agent Ser. 500 1.550 1.900 2.050 2.250 2.450
National Bank Agent Ser 500 1.550 1.900 2.050 2.250 2.450
National Trust Agent S. 1,000 1.450 1.700 1.900 2.200 2.350
Scotia Mtge Corp. Agt. 1,000 1.450 1.700 1.900 2.200 2.350
AGF Trust 5,000 1.450 1.900 2.050 2.150 2.350
ATB Financial 500 1.400 2.250 1.750 1.650 2.000
AcceleRate Financial 500 2.050 2.250 2.450 2.600 2.850
Achieva Financial 500 2.050 2.250 2.450 2.600 2.850
Advisor’s Advantage Tr. 1,000 .010 .010 .010 .010 .010
Alterna Bank 500 1.450 1.750 1.950 2.000 2.300
Alterna Savings 500 1.450 1.750 1.950 2.000 2.300
B2B Bank 1,000 1.450 1.900 2.050 2.150 2.350
Caisses Desjardins 500 .900 1.200 1.250 1.600 1.750
Canada Life 1,000 1.050 1.300 1.450 1.500 1.550
Canadian Western Trust 5,000 1.250 1.350 1.600 1.850 2.200
Community Trust 1,000 1.450 1.800 2.000 2.050 2.300
DUCA Financial Services 500 1.450 1.700 1.900 2.000 2.250
Desjardins Fin. Security 500 1.050 1.150 1.450 1.650 1.850
Effort Trust 1,000 1.600 1.900 2.100 2.200 2.350
Empire Life 500 1.250 1.625 1.875 1.875 2.000
Equitable Life 500 .700 1.750 2.000 1.550 1.600
Fiducie Desjardins 1,000 1.200 1.250 1.600 1.750
First Calgary Financial 500 1.250 1.650 1.950 2.000 2.300
FirstOntario Credit Un. 500 1.600 1.650 1.900 2.100 2.400
Great-West Life 500 1.050 1.300 1.450 1.500 1.550
Home Trust Company 1,000 1.650 1.900 2.100 2.250 2.450
Industrial Alliance 1,000 .900 1.450 1.850 1.900 1.950
London Life 1,000 1.050 1.300 1.450 1.500 1.550
MCAN Mortgage Corp. 5,000 1.750 2.050 2.000 1.650 1.950
Manulife Bank 2,500 1.400 1.650 2.000 2.250 2.450
Manulife Investments 2,500 1.550 1.800 1.950 1.950 1.950
Outlook Financial 1,000 2.050 2.250 2.450 2.600 2.850
PACE Savings & Credit Un 1,000 1.200 1.500 1.600 1.750 2.100
Pacific & Western Bank 1,000 1.660 1.850 2.050 2.150 2.350
Parama Credit Union 1,000 1.700 1.850 2.100 2.200 2.500
Peace Hills Trust 1,000 1.450 1.850 2.050 2.100 2.250
Peoples Trust 5,000 1.000 1.500 1.750 1.750 2.000
ResMor Trust 10,000 1.400 1.800 2.000 2.100 2.300
Servus Credit Union 500 1.150 1.300 1.400 1.600 2.000
Standard Life 1,000 1.500 1.700 1.875 1.950 2.000
Sun Life – Insurance 1,000 1.300 1.600 1.700 1.850 2.000
Sun Life – Trust 1,000 1.500 1.850 2.000 2.200 2.450
Windsor Family C.U. 500 .900 1.300 1.400 1.600 2.100
Your Neighbourhood C.U. 500 1.700 1.850 1.950 2.100 2.350

 REQUEST INFORMATION

If you think that today’s best interest rates in Canada are too low, you may be interested in an annuity that gives a higher monthly income, sometimes 3 to 4 times as much.

Get your free, no risk, no obligation annuity quote from the best insurance companies in Canada.

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2013 Canadian Annuity Rates

These 2013 annuity rate tables show you the best annuity rates available as of January 1 st, 2013. Some of the top 10 leading annuity providers include BMO Insurance, Canada Life Insurance, Empire Life, Great West Life, Industrial Alliance, La Capitale,  Manulife Investments, Standard Life Insurance, Sun Life Assurance Company and Transamerica Life Canada

To read full article with 2012 and 2011 comparison tables, click the link   Annuity Rates Canada 2013.

The Tables below show the monthly incomes for annuity rates based on a premium of $100,000. Income starts in 1 month.

2013 Annuity Rates: Male | Non Registered

male single Non registered

2013 Annuity Rates: Male | Registered

Male single registered annuity rates as of 2013

2013 Annuity Rates: Female | Non Registered

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2013 Annuity Rates: Female | Registered

2013 Canadian Annuity Rates

 

 

 

 

 

 

2013 Annuity Rates: Joint | Non Registered

2013 Canadian Annuity Rates

 

 

 

 

 

2013 Annuity Rates: Joint | Registered

2013 Canadian Annuity Rates

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What are payout annuities and how do they work?

What are payout annuities?

In exchange for a single lump sum deposit, insurance companies payout annuities provide you with guaranteed income for life or for a specific term (term certain annuity) so you can have peace of mind and the security you need to enjoy your retirement to the fullest.

How many types of payout annuities are there?

In Canada insurance companies offer 3 types of payout annuities.

  1. Single Life Payout Annuity: based on the life of one person.
  2. Joint Life Payout Annuity: based on the lives of two people usually married couple.
  3. Term Certain Payout Annuity: which provides guaranteed payments for a predetermined number of years.

How do you choose the right type of payout annuity?

What companies sell payout annuities?

Here is a list of insurance companies that sell payout annuities in Canada:

  1. BMO Insurance
  2. Canada Life
  3. Empire Life
  4. Great West Life
  5. Industrial Alliance
  6. La Capitale
  7. Manulife
  8. Standard life
  9. Sun Life
  10. Transamerica Life

What are the best payout annuity rates in Canada?

Click here for the Best Payout Annuity rates in Canada.

Benefits of Payout Annuities

  1. Guaranteed income for life
  2. Income security
  3. Tax benefits
  4. Payments can continue to your spouse or beneficiaries
  5. No investment decisions
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Best Annuity Rate Comparison Tables of 2012

Below are the best annuity rate comparison tables which we prepared on November 2, 2012.

The annuity rates shown below are from registered funds. All annuity rates provided are immediate life annuities. We compare annuity rates for males and females. A joint comparison is also available for your spouse. All the annuity rates are based on monthly incomes with a premium of $100,000 of registered funds. The income payments will commence in one month.

Annuity Comparison Tables

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Click here to view the full Annuity Rates Comparison Table 2012 article.

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Current Annuity Rates for August 2012

The annuity rates shown below are registered monthly annuity rates, based on a premium of $100,000. Published on August 23, 2012.

The tables below will provide a quick idea of the current annuity rates available in Canada and the level of income the annuity companies will offer you. You can at no cost and no obligation request a quote for your specific needs.

>> Request an annuity quote <<

Current Male Annuity Rates

 

 

 

 

 

 

 

Current Female Annuity Rates

 

 

 

 

 

 

 

Current Joint Annuity Rates

 

 

 

 

 

 

 

For more life annuities.

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Best Interest Rates in Canada – 13.5% GIC

Best Interest Rates Canada

The following GIC Certificate has a 13.5% annual interest rate.

 

 

 

 

 

 

 

The GIC above is one of our best interest rates we reserved for our client  on May 13, 1980 for 1 year term deposit. Below is the current best interest rates in Canada.

Best Canadian Interest Rates Today: June 28, 2012

Best Interest Rates Canada
Company Term In Years
1 2 3 4 5
AGF Trust 1.510 2.110 2.260 2.360 2.460
ATB Financial 1.300 1.300 2.000 1.850 2.400
AcceleRate Financial 2.150 2.500 2.700 2.800 3.100
Achieva Financial 2.150 2.500 2.700 2.850 3.100
Ally 1.700 1.750 2.000 2.250 2.600
Alterna Bank 1.400 1.600 1.900 1.900 2.250
Alterna Savings 1.400 1.600 1.900 1.900 2.250
B2B Trust 1.500 2.200 2.300 2.300 2.500
Bank West 1.900 1.950 2.100 2.150 2.250
Bank of Montreal 1.150 1.300 1.400 1.650 2.050
Bank of Nova Scotia .900 1.100 1.250 1.400 1.750
Bk Nova Scotia Mtg. Corp .900 1.100 1.250 1.400 1.750
Boomerang Credit Union 1.200 1.300 1.400 1.850 2.250
CIBC .650 .850 1.000 1.150 1.500
CIBC Trust Corp. .900 1.100 1.250 1.400 1.750
Caisses Desjardins .900 1.300 1.400 1.600 1.850
Canada Life .300 .650 .750 1.000 1.100
Canadian Direct Fin’l 1.550 2.000 2.250 2.350 2.450
Canadian Tire Bank 1.250 1.600 1.800 1.950 2.250
Canadian Western Bank 1.550 2.000 2.250 2.350 2.450
Canadian Western Trust 1.400 1.550 1.650 1.850 2.300
Coast Capital Savings 1.750 2.000 2.250 2.350 2.500
Community Trust 1.450 1.750 1.950 2.000 2.050
Concentra Financial 1.150 1.300 1.400 1.850 2.100
DUCA Financial Services 1.400 1.700 2.000 2.100 2.300
Desjardins Fin. Security .950 1.050 1.350 1.550 1.750
Effort Trust 1.800 2.200 2.400 2.450 2.500
Empire Life 1.500 2.000 2.250 2.250 2.250
Entegra Credit Union 2.050 2.400 2.650 2.750 3.000
Equitable Life .610 1.150 1.650 1.650 2.150
Equitable Trust 1.600 2.050 2.300 2.350 2.450
Fiducie Desjardins .900 1.300 1.400 1.600 1.850
First Calgary Financial 1.250 1.650 1.950 2.000 2.300
FirstOntario Credit Un. 1.750 1.800 2.000 2.200 2.600
General Bank of Canada 1.750 2.000 2.100 2.200 2.400
Great-West Life .550 .900 1.000 1.250 1.350
HSBC Bank Canada 1.100 1.300 1.400 1.600 1.900
HomEquity Bank 1.750 2.100 2.200 2.400 2.600
Home Trust Company 1.800 2.200 2.400 2.400 2.500
ICICI Bank Canada .000 .000 .000 .000 .000
ING Direct 1.400 1.750 2.000 2.100 2.300
Industrial Alliance .900 1.350 1.500 1.600 2.000
Korea Exchange Bank 1.600 1.700 1.800 1.900 2.000
Laurentian Bank Canada .900 1.250 1.400 1.600 1.850
Laurentienne Trust .900 1.250 1.400 1.600 1.850
League Svgs & Mortgage 1.150 1.300 1.400 1.600 2.050
Libro Financial Group 1.200 1.600 1.750 1.950 2.100
London Life .550 .900 1.000 1.250 1.350
M.R.S. Trust 1.250 1.500 1.800 2.050 2.250
MCAN Mortgage Corp. 1.700 2.000 2.150 1.650 1.950
Manulife Bank 1.500 1.900 2.150 2.350 2.600
Manulife Investments .850 1.250 1.500 1.750 1.850
Manulife Trust 1.500 1.900 2.150 2.350 2.600
MonCana Bank of Canada 1.400 1.600 1.700 1.800 1.900
National Bank .900 1.300 1.400 1.600 1.850
Ontario Civil Service CU 1.300 1.300 1.400 1.850 2.100
Outlook Financial 2.150 2.500 2.700 2.850 3.100
PACE Savings & Credit Un 1.100 1.500 1.600 1.750 2.100
Pacific & Western Bank 1.600 2.100 2.200 2.300 2.450
Parama Credit Union 1.800 1.900 2.200 2.250 2.500
Peace Hills Trust 1.250 1.500 1.900 2.350 2.500
Peoples Trust 1.600 1.900 2.000 2.100 2.400
President’s Choice Fin’l 1.250 1.700 1.900 2.100 2.300
ResMor Trust 1.750 2.150 2.300 2.350 2.600
Royal Bank of Canada 1.300 1.300 1.850 1.600 2.100
Servus Credit Union 1.150 1.300 1.400 1.650 2.050
Standard Life .500 1.050 1.600 1.600 1.600
State Bank of India (C) 1.650 1.900 2.250 2.350 2.500
Steinbach Credit Union 2.050 2.400 2.650 2.750 3.000
Sun Life – Insurance 1.050 1.100 1.250 1.400 1.500
Sun Life – Trust 1.600 1.950 2.050 2.150 2.350
T-D Mortgage 1.300 1.300 1.400 1.650 2.000
Teachers Credit Union 1.400 1.650 2.100 2.350 2.500
VanCity Savings (BC) 1.300 1.300 1.850 1.750 2.000
Windsor Family C.U. .900 1.300 1.400 1.600 2.100
Your Neighbourhood C.U. 1.700 1.800 1.900 2.200 2.400