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