Sources of Retirement Income


  • Personal savings, including your registered and non-registered accounts
  • Government support
  • Real estate, such as your home or cottage can be a source of income in later years, especially if you don’t plan to pass property on to your children or grandchildren
  • Employer pensions are becoming less common, and the onus is on the individual to put enough aside to meet retirement needs. There’s also a shifting away from defined benefit to defined contribution plans, which are more flexible and not regulated by pension legislations. Traditional plans had strict rules and were ‘locked-in’, whereas newer plans can be customized to individual preferences and investment options
  • Individual Pension Plans (IPP) can be described as ‘supersized’ RSPs. They can be set up to protect assets from creditors and create tax-deductible expenses to a corporation.
  • An Insured annuity also known as a Triple Back-to-Back strategy, combines a life annuity with insurance protection. It’s a low-risk alternative to the fixed-income portion of your portfolio and provides guaranteed income with estate protection.

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