Retirement annuities | Securian Canada

Create the retirement story you want with an annuity

How do you anticipate spending your retirement? Exploring new passions, spending more time with family and friends, volunteering, traveling?

You may consider an annuity as your primary source of retirement income, as a supplement to an existing IRA you own, or to bolster your income from a retirement plan offered through your employer.

A retirement annuity can help you accumulate assets and provide multiple options for taking retirement income – including the option to receive a steady stream of guaranteed income for life – so you can make the most of your well-deserved retirement years.

Unlike other retirement options, annuities are not subject to IRS contribution limits (although certain contracts may have a maximum limit) – a good fit if you’ve maxed out your 401(k) or other retirement vehicles.

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A financial advisor can help you choose the annuity product that is suited to helping you reach your retirement income goals.

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Income now or income later?

The type of annuity you choose should partially be based on when you want to begin receiving payments. A financial advisor can help you choose the annuity product that is suited to helping you reach your retirement income goals.

Income now

Immediate annuities

An immediate annuity offers the opportunity to generate a guaranteed stream of income, starting within a year after purchase.

Your initial lump sum of money is converted into a series of income payments, at a frequency of your choosing: monthly, quarterly, semi-annually or annually. It’s an easy way to generate a guaranteed source of income to meet your routine expenses, or to assure that your retirement savings last as long as you do.

Learn about immediate annuities

Income later

A deferred annuity offers the opportunity to grow your assets while you wait to begin receiving your future income stream. During this time of accumulation, any asset growth is tax deferred, which means taxes aren’t owed until you withdraw money – typically at retirement. Tax deferral allows you to grow your assets faster, because gains aren’t reduced annually by taxes.

Deferred annuities offer different approaches to growing your assets.

Fixed deferred annuities

Fixed deferred annuities offer guaranteed growth at a specific interest rate, making them a lower-risk, predictable investment.

Learn about fixed deferred annuities

Fixed indexed deferred annuities

Fixed indexed deferred annuities offer the opportunity to earn interest linked to the changes in performance of an index, allowing you to potentially earn higher interest than you would with many fixed interest products.

Learn about fixed indexed deferred annuities

Variable deferred annuities

Variable deferred annuities offer the ability to invest your contributions in variable investment options, making them a good fit for those who want market participation and are prepared to face market risk.

Learn about variable deferred annuities

Retirement savings at work

You may also participate in a retirement savings program offered by your employer such as a 401(k), 403(b) or other defined-contribution program.

These plans are also important vehicles to help you build your retirement savings and live the life you want after you retire. You have a variety of methods to save and fund your retirement.

Learn more about funding your retirement

When it comes to saving for your retirement journey, preparation is everything.

Saving for someday