WHAT IS A NON-PRESCRIBED ANNUITY?
When your Annuity pays you an income, a Non-Prescribed plan will weigh the taxation of this income with a higher level of taxation in the early years.
As you age and the Annuity plan continues, your level of taxation will decrease progressively by year. This results in an Annuity that helps you save more as you age.
KEY BENEFITS OF PRESCRIBED ANNUITIES
- Lower taxes later in life.
- Higher savings as you age.
- Typically allows for better management of non-registered funds.
- A better form of longevity insurance than other types of annuities
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