Canada Joins the Tontine Movement!
The Canadian government has announced several provisions in its 2019 budget to strengthen retirement security. One allows for advanced life deferred annuities. Another allows for offering "variable payment life annuities" (VPLAs) to members of a PRPP or defined contribution RPP. VPLA payments would vary based on investment performance and the mortality experience of VPLA annuitants. That, folks, is a tontine! Great news for Canadians and for Nuova Longevità, the preeminent tontine design consultancy.