Personal Finance

Advanced Life Deferred Annuity in Federal Budget

  • Last Updated:
  • Mar 20th, 2019 9:41 am
[OP]
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Mar 8, 2013
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Advanced Life Deferred Annuity in Federal Budget

The Liberal government is amending the rules to permit seniors to purchase an advanced life deferred annuity (ALDA) under certain registered plans—an annuity whose commencement can be deferred until age 85. The plan was introduced Tuesday in the federal budget.

Any opinions on this? My spouse will turn 71 this year and this appears to be one way to reduce minimum RRIF payments and reduce chances of outliving retirement savings. The parents lived into their 90's.
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