Transfer Your Company Pension To A

Copycat Annuity

What is a Copycat Annuity?

The word “copycat” is used to refer to a life annuity that is purchased to replace the income from a Defined Benefit plan from your employer, where your employer providess a monthly income upon retirement.

Your Employer vs Insurance Company

If you're concerned about the financial health of your employer's pension plan, before you apply to start your pension, look at transferring the benefit to a copycat annuity by creating an identical pension amount guaranteed by a Canadian insurance company.

Evaluate the credit ratings of an insurance company using agencies like AM Best, Moody's or Standard & Poor's. Compare the ratings to the financial health of your employers before deciding which is best for you.

3 Key Features of a Copycat Annuity

  • Exact Copy: With a copycat annuity you get the same or slightly higher monthly income to those of your employer's.
  • Protection From Default: Transferring your employer's pension benefits to a high credit rated insurance company, you'll eliminate the risk of losing your pension to bankruptcy or financial problems.
  • Federal & Provincial Regulations: Copycat annuities are regulated by the Canadian federal and provincial insurance regulators, making sure that the insurance company is financial stable.

Case Study of a Copycat Annuity

A General Motors retiree chooses a copycat annuity to make his income stronger.

Dave Anderson from St. Catherines, Ontario retired from General Motors of Canada after 35 years of employment decided to transition his pension to a copycat annuity. To read full story, click here.

Source: The Globe and Mail - Alexandra MacQueen, Published February 15, 2019

Copycat Annuity Form

Complete our Copycat Annuity Form and we'll provide you with a quote and help you transfer your employer's pension to a copycat annuity.

Phil Barker

About the Author

Phil Barker

Phil Barker is a leading expert on life annuities in Canada. has different financial products and has been a recognized authority since 1972.

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