What is an annuity buy-in?
An innovative, flexible group annuity policy that transfers all the risks for a group of retired members to Sun Life, but is invisible to plan members
How do annuity buy-ins work?
In exchange for a lump sum premium, Sun Life makes a monthly payment to the pension plan equal to the pension payments for the covered group (which can include retirees and deferred members), and the plan continues to pay each member directly. An annuity buy-in is an investment of the plan that requires no top-up contribution from the plan sponsor and triggers no accounting settlement.1
What are the advantages of annuity buy-ins for sponsors?
Annuity buy-ins provide most of the same great benefits as annuity buy-outs, along with added flexibility for plan sponsors.
- No top-up contribution
- No accounting settlement1
- Option to convert to annuity buy-out
- Invisible to retirees
- Flexibility to purchase during wind-up
Access our annuity buy-in solution sheet for more details.
Where to start?
Access our annuity quote data requirements.
Contact us for more information.
1Plan sponsors should confirm the need for an accounting treatment settlement with their own auditors.
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- $3.7 billion in group annuity sales in 2017
- 77 annuity buy-in transactions completed in Canada, covering $6.1 billion of liabilities as of June 30, 2018