Retirement solutions Canada Fact book 2017

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Increasing life spans, the trend away from defined benefit (DB) pensions and lower and more volatile investment returns makes saving for and income security throughout retirement a challenge for Canadians. Annuity products and other innovative solutions offered by life insurers provide an excellent way of meeting retirement needs. There are two stages to an annuity:

1. Accumulating annuities provide a secure investment vehicle for pension plans, RRSPs, TFSAs, and non-registered funds during the savings stage.

2. Pay-out annuities can provide guaranteed income for life, just like a DB pension. Only life insurers can guarantee income for life.

84% of annuity premiums are invested in segregated funds.

Annuities provide a range of investment options for consumers. Variable annuity products, with benefits linked to the performance of an underlying portfolio of assets, are backed by segregated funds. Younger Canadians continue to focus on wealth accumulation and

retirement planning through these market-value-based products.

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$43.5B in retirement benefits

Retirement benefits grew at an average annual rate of 5% over the past decade.

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