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Annuities should be at the heart of your retirement income planning, as they can provide for your fixed-income needs for a set time or for the rest of your life. These payout annuities are an easy and worry-free way of guaranteeing a set income during retirement or a gap in working.

With a payout annuity, you can opt for a fixed amount of income for life, an income for your partner or spouse if they survive you, or an income for any fixed term you may require. Annuities can be a hassle-free way to have an income in retirement without the need to manage your investments or watch the stock market every week!

Payout annuities:

  • Pay a regular income from registered or non-registered savings
  • Can be issued with term guarantees
  • Have a fixed interest rate, regardless of market rate changes
  • Can spread taxes from registered savings over several years


Why choose an annuity from Ian C Moyer

Choosing an annuity is a major decision you need to take to secure your financial future in retirement. If you have an RRSP, you can convert it into an annuity anytime before you reach age 71. In effect, you can use your RRSP to 'buy' an income for life, and that income amount is set at time of purchase. The longer you are expected to live, the less the payment will be, and vice versa.

There are three main types of annuities:

A single-life annuity pays you a set or indexed amount of income for the rest of your life

A joint and survivor annuity provides the same set or indexed amount of income for both of you, until one partner dies. At that point, the survivor will either receive the same income or a percentage, depending no what you chose when you set up the annuity.

A term certain annuity guarantees income payment over a set period of time, which you chose when you buy the annuity.

At Ian C Moyer, we are experts in retirement and estate planning, and understand the concerns you may have over choosing this important form of lifelong income. That's why we're happy to meet and talk through your options, no obligation, whether you're approaching 71, or a long way off!

Contact Information


Phone: 1 519 485 5801

Toll Free: 1 800 565 5444

Fax: 1 519 425 1207

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