How do annuity buy-outs work?

In exchange for a lump sum premium, Sun Life assumes responsibility for making pension payments to the covered group. The annuitants can include retirees as well as deferred members. Sun Life provides plan administration and member support including communications and a dedicated member service team.

Advantages for plan sponsors

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People are living longer

Longevity insurance protects member pension benefits if they live longer than expected. 

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