Open this photo in gallery: An annuity provides you with the same thing a defined-benefit pension does – guaranteed income for life, with no investment risk. Many people believe that when leaving a job with a defined-benefit pension, their options are limited to commuting the pension – taking its value as a lump sum – or leaving it with your former employer.
But if you’re concerned about the long-term financial health of your employer-sponsored pension plan, neither of these two options may sit well with you, says Lea Koiv, a Toronto-based accountant who specializes in retirement and pension advice.
On the […]
Full Post at www.theglobeandmail.com