Annuity
What is an annuity?
An annuity is a series of guaranteed payments (income) made to you throughout your retirement. You can choose to have the income continue after your death, for example to your spouse.
Your annuity is purchased from the proceeds of:
- your personal pension plan;
- your company or executive pension plan;
- your Additional Voluntary Contribution (AVC) scheme;
- death benefit paid through an occupational pension scheme (group pension scheme). In this case the annuity will be paid to your dependants or beneficiaries; or
- your PRSA.
Note: Purchased Life Annuities (annuities purchased through your own savings rather than through a retirement fund) are not available through Canada Life.
- What is an annuity?
- Frequently Asked Questions
- Taxation on Annuities
- Technical Details