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  • Should I use my RPP money for an annuity?

    132 views 5 years ago
    Question from Ontario

    Should I use my RPP money for an annuity?

    This question comes from a lady who was awarded $225,000, half of her ex husbands Registered Pension Plan at her divorce. She is 60 years of age and wants to know whether she should buy an annuity or hang onto the capital for a few more years.

    This lady has no intention of remarriage, so it is only she that can make use of it, not her children, relatives or beneficiaries.

    And that is because tax has not been paid on the capital, which will be due on any balance remaining at her death. Funds remaining due at her death under a guarantee period are collapsed into a present day lump sum, taxed and distributed. if you think that means there won't be much left , you have understood the situation correctly.

    So hanging on to the capital makes no sense. The marriage didn't work but an annuity brings it own certainty. Show less
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  • ANNUITY: Questions & Answers Play all

    Our annuity playlist consists of Canadian annuities. Questions and answers from Annuities to Retirement Planning.
    • Should I buy a single life annuity with a guarantee? - Duration: 64 seconds.

      • 5 years ago
      • 288 views
      Question and Answers to Your Annuity Questions

      This question is from Marianna in Toronto.

      Should I buy a single life annuity with a guarantee, even though my male partner is about the same age?

      ...
    • How can I protect my wife through a life annuity? - Duration: 64 seconds.

      • 5 years ago
      • 304 views
      This question was sent in by a client in B.C.

      I am a 65 year old man with a 50 year old wife. A joint annuity pays me a lot less than a single life annuity. But how can I protect her till her deat...
    • Do most retirees buy annuities? - Duration: 61 seconds.

      • 5 years ago
      • 238 views
      From Mark in New Brunswick

      Do most retirees buy annuities?

      Boy, that is a hard question to answer to which I can truly say " I don't know"

      People who buy annuities tend to be very shy of losing ...
    • What is this annuity insurance I hear about? - Duration: 67 seconds.

      • 5 years ago
      • 212 views
      A question from Ontario today.

      What is this annuity insurance I hear about?

      This question refer to the income insurance through Assuris.com whereby all the life insurance companies as a group, gu...
    • Apart from annuities in retirement, what else do I have to worry about? - Duration: 75 seconds.

      • 5 years ago
      • 205 views
      This question is from John in Manitoba.

      Apart from annuities in retirement, what else do I have to worry about?

      Apart from your family and its needs, your main concern should be your health. If y...
    • Will my health affect my annuity income? - Duration: 57 seconds.

      • 5 years ago
      • 196 views
      Rene from Quebec wants an answer to this question

      Will my health affect my income?

      This question needs to be rephrased. If you do not take your annuity while you are healthy, it then can be used...
    • Can I buy more than one annuity? - Duration: 60 seconds.

      • 5 years ago
      • 214 views
      From Bill in Nova Scotia

      Can I buy more than one annuity?

      You can buy as many annuities as you wish and basically at any age.

      The whole concept of an annuity payment is the guaranteed higher inc...
    • Why should I buy an annuity? - Duration: 66 seconds.

      • 5 years ago
      • 511 views
      Question from Tom and Mary in Victoria, BC

      Why should I buy an annuity?

      You should buy an annuity only if you are interested in many of its features. Some of which are:

      Strength: One of the mai...
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