Copycat Annuity Quotes vs. Estimates (And Why The Right Paperwork Matters!)

We often get calls or emails asking for a copycat annuity quote.

First of all, a copycat annuity is your pension paid to you the same as your company would pay you BUT the pension is paid by a Canadian insurance company, not your employer.

So, the call goes something like this: “I just got my paperwork. Can you get me a quote on a copycat?”

My first question: “Is this your final pension statement or just an estimate?”

I’m often told that the paperwork is an estimate.

So, here’s the thing. An estimate will get you an estimate.

I can estimate that you’ll get a nice “cash surplus” and add that I just delivered one for over $78,000.

But I cannot tell you how much you’ll get. That only comes from your final statement.

Bond rates change every day. So what good is it to pretend to quote you a valid number if tomorrow that will change.

Let me reiterate: a quote can ONLY come from your final statement.

–Bruce Youngblud

Bruce Youngblud is a Certified Financial Planner in southern Ontario with over 20 years of experience. He has 3 boys, two daughters-in-law, and one grand dog.
Bruce and his team specialize in helping individuals prepare for retirement and advises clients on pensions, government pensions, tax planning and estate planning.

Considering a copycat annuity when you retire? Chat with us first!

Now it’s time to take action! Call us at 1-888-554-6661 for a free consultation to analyze and discuss your pension options.  Our services are at no cost to you.

The team at Pension Solutions Canada specializes in helping individuals prepare for retirement and protect their assets. We can also help you with estate planning, address tax minimization, and answer all of your retirement and pension questions.

Call 1-888-554-6661 to speak with Kennedie who will book a call with one of our pension experts at a time most convenient for you.

You may also like...

Chat With A Certified Financial Planner - FREE!

Book a no-obligation 15-minute virtual Zoom consultation call with a Certified Financial Planner who can answer your pension and retirement questions and inform you of all your options!