We provide specialized annuity services for Canadians who have moved permanently to other countries and may still have some RRSPs, RRIFS or locked-in registered plans in Canada. The process is not easy for expatriates. Canadian insurance companies require that annuity applications be signed in Canada and the resulting annuity payments will only be deposited in Canadian funds into a Canadian bank. If you don’t have a Canadian bank account and wish to have one, you need to apply for an account in person. If you live in the U.S. we are currently aware of at least one Canadian bank that will facilitate withdrawal of funds through a U.S. bank in U.S. funds.
If you are a Canadian citizen, planning to move to another country upon retirement, it will be far easier to go through the process of finalizing retirement options before leaving Canada than to do it after you leave Canada. Non-registered funds definitely need to be attended to before you leave Canada, because you will not be able to do so after leaving the country.
Canadian life insurance companies are ready to do business with Canadians who reside permanently in Canada, have a permanent Canadian address and have a Canadian bank account. If you complete your annuity purchase before leaving Canada, you sidestep any of the issues related to non-residency. The insurance company that issued your annuity is obligated to deposit future annuity payments into your Canadian bank account.
If you have registered savings and you plan to retire to another country in the future, then at least transfer your registered investments to a Canadian life insurance company before you leave. The reason for this is to set up a contractual obligation between you and an insurance company which has an annuity as one of their retirement options. We can help you find an appropriate insurance company for this purpose.
We are located in White Rock, British Columbia, just a few miles [kilometers] from the U.S./Canadian border. If you are living in the U.S. and it is necessary for you to travel to British Columbia where we are located, we will do our best to help you find short term lodging and will provide introduction to a local Bank in White Rock.
Please tell us your circumstances and we will let you know whether or not we can help you. Our e-mail address is firstname.lastname@example.org or call telephone 604-535-2404. Sorry, our toll free number only works in Canada. If you provide your U.S. phone number in an e-mail, we will call you at our expense.