Annuity purchases in Canada in 2023: the enthusiasm continues

Discover our first market monitoring report on annuity purchases in Canada in 2023!

• In 2023, annuity purchases in Canada surpassed $7.5 billion for a third consecutive year.
• With interest rates rising in recent years, many pension plans have seen significant improvement in their financial positions. Annuity purchases allowed organizations to crystallize some of the gains observed and, in some cases, even further improve their plans’ financial position.
• The implicit returns on annuity purchases have been particularly high, making annuity purchases an attractive investment for pension funds of all sizes.
• Insurers have continued to offer attractive pricing for indexed annuities, despite the Government of Canada’s decision to stop issuing real return bonds.

Questions or looking to purchase annuities for your pension plan? Contact our specialists!