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The Money Management Newsletter -
Retirement Planning
The Companion Advisor - Retirement
Fiscal Agents - the cornerstone to any investment planning solution.

Making the right financial decisions isn't always easy - that's why it makes sense to get some help and advice first, from someone who really knows the market, is truly independent and what you are looking for.

Our philosophy starts with understanding your interests, your goals and priorities and then recommending solutions that build confidence towards success.

To explore the benefits of having a Fiscal Agents' advisor help you sort through the hundreds of options, find the retirement products and services to match your circumstances without obligation, click here for contact information and/or fill out the short online form.
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Click above to find out how Fiscal Agents can assist you in RRIF Investing.
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Annuities Also in this section: Retirement Income Funds

Annuitant: An individual who purchases an annuity and will receive payments from that annuity.

Annuity: A series of regular periodic payments comprising principal and interest. An annuity is a contract providing for a series of payments. In the case of retirement, an annuity is usually purchased from an insurance company who then pays the purchaser a monthly amount while still alive. Annuities may have more complicated features such as indexing, guarantee periods and benefits payable to a spouse or other beneficiary after death.

- Taken from the Fiscal Agents Financial Glossary


When an individual purchases an annuity, they usually pay a lump sum from their RRSP, or other source of funds, to an insurer. The insurer then takes this (premium) and divides by an annuity factor based on mortality, current interest rates and payment features.

The main reasons behind the purchase of an annuity are:

  • Requiring a simple and secure source of income,
  • reducing the ongoing investment decisions

Annuities come with different options and types of registration. A "single life" annuity provides determined income for the individual, whereas "joint and last survivor" is designed to cover two individual lives. Depending on who is the primary annuitant, payments continue to the secondary annuitant. See our article Annuity options explained.

When it comes to converting your RRSP monies into income producing investments and planning for the future, the sheer number of options between buying an annuity and other type on income producing investment vehicles and opportunities can become overwhelming. Their are Life annuities issued only by Life insurance companies and as the name suggests, income will continued for a life time. Long Term annuities as with life annuities are a stable offing from the life insurance sector. Shorter term certain annuities are also offend by banks and trust companies.

Throughout our retirement income sections, you'll find discussion on Annuities, Income funds, and pensions. It's important to recognize not one solution fits all. In fact, combining deferment products to suit particular needs is sometimes the best option. As a First Step to smarter choices, understand where the money is coming from. Utilizing the planners and workbooks from our site's Financial Tools you can quickly get your plan together. Start with the Cornerstone Directory, then use the calculators to bring together a summary overview of your finances. Your investment advisor has 25 reasons to assist you in pulling this together!

For those who like to leave nothing to chance, the information on Incapacity: Planning ahead helps and Structuring an effective Will is ideal. Also, take a peek at the information provided on Being an executor. Finally, the Estate Planning section can help you to determine and ensure that you have not missed anything while bringing your affairs to order.

To obtain a clearer understanding about the particular terms involved in Retirement Income planning, take a look at Fiscal Agents' Glossary of Retirement Terms.
Special Glossary Of
Retirement Terms

Many options exist for those about to embark on this important time in their lives. It pays to take the time to investigate all possibilities to ensure that enough income will remain to provide a comfortable lifestyle not only now but for the duration of your retirement.

Annuities explained

Entering retirement calls for a review on how to make ends meet after receiving a regular paycheck. For most saving enough money has been a common goal and now that you've stopped working. For many selecting the best possible income form the all the available retirement options may be the most important of the investment decisions before you. We suggest reading our article Life time income solutions for you and yours.

Annuities, like any other investment, are subject to tax. The taxation of annuities will depend on the type of funds used to purchase the annuity, and if the annuity was purchased on a tax deferred "prescribed" basis.

Case studies

Accelerated Annuity: Enhanced income for those with a serious illness

Gradual Inheritance Transfers

Guaranteed Retirement Income for Life, Mix and Match

Income to fund Nursing Care Expenses

Featured Reading on Annuities, RRIFs and the other ifs

This must-read section brings together relative Annuity and RRIF information you need to get started or enhance your understanding of the elements of Retirement Income Planning.

Money Management Newsletter - Annuities

Gradual Inherence Transfer

Innovative strategies for a worry-free retirement

Mixing growth funds and fixed term annuities

Ten steps to getting your plans in sync with your goals

Your time is running out

Surprised by the Old Age Security "clawback" on last years income tax return?

Counting on government benefits to augment your income during retirement? You may need to take action to protect those benefits

Other Considerations

Choosing a Beneficiary

Wealth Management Programs
RRIFs and other Ifs

Turning on the RRIF tap

Converting your RRSP: Choosing a LIF, LRIF or Life Annuity

Points to consider re: RRIFs

New age RRIFs

The Companion Advisor

Innovative strategies for a worry-free retirement

RRIFs:- Registered Retirement Income Funds

Our Bookstore section contains details related to books that we recommend for various areas of investing. Also provided are links to ordering information on each title from

Featured titles for Retirement Savings include:

The Pension Puzzle: Understand, Evaluate and Plan Your Financial Future
Written by
Bruce Cohen, Brian Fitzgerald

Planning Your Financial Future: A Guide for Canadians
Written by Anne K. Chun, B.Comm., F.I.C.B., C.P.A. (US), C.A. and Patricia Jeremy

The Wealthy Barber: Everyone's Commonsense Guide to Becoming Financially Independent
Written by David Chilton

Annuity Taxation

Annuities have been around hundreds of years, and though out time, have proven an ideal financial product to bring balance or provide a total solution to the retirement or income question. There are three basic type of annuities, registered annuities and Prescribed and non-prescribed, each subjected differently to taxation. Click here to read an article describing these taxation methods.

Annuity and RRIF income pricing

What your savings earn -

4 Comparison table of RRIF and Annuity quotations
4 Retirement income funds interest rates

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Retirement Income:
Special Section
Estate Planning User's Guide
Tips & Guides
Questions and Answers - RRSPs
General investor tips
Site Resources
Special Glossary of
Retirement Terms
Money Management Newsletter: Retirement Income Planning
The Companion Advisor: Retirement Planning
IP-Profiler: Retirement
We have also taken the opportunity to compile a reference section for retirement-related investment products, known as the IP-Profiler. It provides a detailed look at the various products available and contains information on deposit levels and applicable fees.
& Worksheets
Our collection of retirement planning calculators and worksheets will also come in handy for those interested in planning for the future. Whether your retirement is 2 or 20 years away, it is never too early to put a retirement plan into action. The calculators listed below are a good start for understanding your retirement goals, and setting in motion an effective plan towards meeting them.

This simple, 5-step financial calculator is a direct adaptation of the comprehensive worksheet found in the financial book The Pension Puzzle. Using values you provide, an investigation into your retirement income goals and the amount of money you have saved to meet them will be performed, providing results to illustrate any additional income you may require. A report of the data entered can also be generated.
Retirement Savings & Income Calculator
Shows the regular RRSP contribution needed to achieve a specific retirement income.
RRIF Rates
1 to 5 yrs RRIF Account
10, 15 and 20 years RRIF Account
RRIF Savings Accounts
Online Quizzes
Test your knowledge of Retirement Options
Cornerstone Planning

Your investment plan will alter and change just as you do, your needs and goals also change as you age.

Fiscal Agent's Cornerstone® Planning process addresses these concerns and works with you to make sure that you are getting the most out of your investment plan. We recognize that, regardless of your age, it is never too late to start saving for your financial future and retirement. Please review The Milestones in your Financial Lifecycle.