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Annuity Products
With the choice of annuity products
we offer, you will find a suitable financial solution for your
retirement. Since an annuity product adapted to members’ needs allows
members to benefit fully from the accumulated amounts throughout their
lifetime, it is important to choose the right product.
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Insured Annuities |
Insured annuities represent a retirement income
option that provides a guaranteed income for life or a specific period
of time. One of the main advantages of insured annuities is that they
provide a periodic income and simplified management of the retirement
income. Several types of annuities are available.
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Registered Retirement Income Funds (RRIFs) |
A registered retirement income fund (RRIF) is
the natural extension of a registered
retirement savings plan (RRSP):). It enables you to use the savings
accumulated during your working life. With a RRIF, you may periodically
withdraw a portion of the accumulated amounts, while continuing to accumulate
savings generated income in a tax shelter. You must, by law, withdraw
a minimum annual income, but no maximum withdrawal is applicable.
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Life Income Funds (LIFs) |
A life income fund (LIF), which is similar to
a RRIF, is designed to allow you to withdraw amounts accumulated in a
locked-in
retirement account (LIRA) or a pension plan. An LIF requires both
a minimum and a maximum annual withdrawal.
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