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Annuity buy-out

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 (which can include retirees and deferred members) and issues individual certificates to each member. We provide administration services and communications support, including a member call centre and distribution of annual tax forms directly to members

What are advantages of annuity buy-outs for plan sponsors?

  • Reduced pension volatility
  • Investment risk protection
  • Longevity risk protection
  • Benefit security
  • Potential for superior yields
  • Reduced administration

Annuity Facts

$5.2 billion in group annuity sales in 2019

112 annuity buy-in transactions sold in Canada, covering $9.3 billion of liabilities as of March 31, 2020