December 2005
Are you converting your RRSP funds
into a retirement income fund this year?


Here are a few points of interest. Firstly, dealing with some numbers check out the Retirement Income Fund interest rates taken from the Money Centre. We have produced a special survey showing you Annuity quotation's and current RRIF rates. This snapshot highlights the highs and low offering - but more importantly it proves that you need to be shopping the market for the best deal! Thousand of dollars of potential income would be lost by accepting what is on offer at your local financial institution. For current quotations and information that would reflect your situation please contact your Fiscal Agents Advisor or 1-905-844-7700.

Our Retirement Income section contains information on the ins and outs of retirement products. For a quick overview of some of the options see Converting your RRSP: Choosing a LIF, LRIF or Life Annuity.
What your savings earn - GIC type Retirement Income Funds
Interest Paid Annually
Invested for # years 1 2 3 4 5 10 15 20
Group High 4.00 4.00 4.05 4.30 4.45 3.75 3.88 3.88

Monthly Interest income on the above sample rates $100,000

333.33 333.33 337.50 358.33 370.83 312.50 323.33 323.33
Group Ave 2.95 3.08 3.23 3.35 3.50 3.28 3.49 3.52
Group Low 1.60 2.10 2.40 2.60 2.87 2.65 2.80 2.95

Rates subject to change without notice. Data reflects rates surveyed Dec 13th 2005.
Copyright Fiscal Agents - (905) 844-7700

What your savings earn - Annuity Quotations

Annuity Company What your S100,000 deposit pays monthly
Annuity Type /
Annuitant(s) Age		 Female Male Joint
60 65 71 60 65 71 60 65 71
Canada Life 509.78 560.91 N/A 563.11 628.93 N/A 471.03 514.18 N/A
Desjardins Financial 504.69 557.35 642.93 549.07 613.08 708.78 465.05 509.72 586.33
Empire Life 512.17 567.74 647.19 554.41 621.49 706.07 467.37 512.30 581.87
Equitable Life 513.49 565.74 650.28 554.86 616.86 710.73 471.93 516.05 591.68
Great-West Life 512.21 560.14 N/A 562.27 621.76 N/A 469.79 516.74 N/A
Manulife Investments 493.74 550.44 645.12 539.15 604.79 705.87 451.05 499.14 584.22
Standard Life 507.61 561.12 647.50 543.68 604.95 697.36 468.00 512.07 587.34
Sun Life Assurance 507.49 562.67 647.89 545.50 609.26 704.33 463.88 511.17 587.40
Transamerica Life 511.04 563.26 648.90 547.12 610.69 705.80 478.60 520.24 595.73

 Top Rate  2nd Place  3rd Spot

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.

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.

Income to commence one month from December. 14, 2005 Rates subject to change without notice. Annuity quotes Dec. 14th 2005 Compliments The MoneyGuide Network Inc. with data from Canadian Annuity Exchange.