| Cash |
Conventional Annuity |
Market Based Annuity |
RRIF
| Combination RRIF/Annuity |
| Income Tax |
 |
The amount you withdraw is taxed as income. |
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Likely to place you in a higher tax bracket. |
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Once you have taken out the tax sheltered assets any interest / investment income are added to your taxable income. |
|
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Only the payments you receive are taxed as income. |
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Only the payments you receive are taxed as income. |
|
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Only the payments you receive are taxed as income. |
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Only the payments you receive are taxed as income. |
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| Investment Options |
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N/A |
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You do not make any investment decisions. |
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You control your investment decisions. |
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You control your investment decisions. |
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You do not make any investment decisions under the annuity component. |
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You control your investment decisions under the RRIF component. |
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| Income Protection |
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You can outlive your income. |
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You cannot outlive your income with a life or joint life annuity. |
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You cannot outlive your income with a life or joint life annuity. |
|
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You can outlive your income. |
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You cannot outlive your income with a life or joint life annuity. |
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| Income Options |
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N/A |
|
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Several types of registered annuities are available. |
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Provides you with the option to select various guaranteed periods. |
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You cannot alter the payment amount or terms once they commence. |
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Several types of registered annuities are available. |
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Provides you with the option to select various guaranteed periods. |
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Provides you with an income that increases or decreases to reflect your actual investment return. |
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You may increase / decrease your income stream. |
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You must withdraw a minimum amount of income each year. |
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Your assets may vary due to market fluctuations. |
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You may purchase an annuity at any time. |
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See RRIF and Conventional Annuity for details. |
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| Income Frequency |
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You may withdraw all or a portion of your assets. |
|
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Monthly, quarterly, semi-annual and annual income frequencies are available. |
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Monthly, quarterly, semi-annual and annual income frequencies are available. |
|
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Monthly, quarterly, semi-annual and annual income frequencies are available (subject to applicable minimum rules). |
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Unscheduled withdrawals are available. |
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See RRIF and Conventional Annuity for details. |
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