What is the process to purchase a pension?
  • Setting up your own pension takes only a few steps of paperwork.
  • There is no medical testing required.
  • We need to meet with you once to complete the application form. Many of the application form questions can be answered beforehand with you on the phone, but a brief meeting is still required.

The application form will include the design of the pension – who it is for, is it joint with a spouse and the other various details of the type of pension you want. We will help you with all of these straightforward decisions.

The application, once completed, will also include the source of the payment to purchase the pension. This may be a cheque for the money or a transfer form to transfer money from an existing investment account, RRSP or a RRIF account.

Once the application is submitted to an insurance company, they will process the forms and follow up with any questions. Once the pension is approved the pension payments will start shortly thereafter.

Which insurance companies do you use?
Your pension plan will be provided with an annuity from only the strongest insurance companies in the world. To further diversify the pension, large pensions may be split between two or more insurance companies.

The strength of insurance companies is measured by the global credit rating services such as Standard & Poors, Dominion and Moody’s. In selecting an insurance company to use for your pension we will examine the following factors:

  • Size of the insurance company
  • Position of the insurance company in the insurance industry and in the global business world in general
  • Financial strength of the insurance company
  • Price of the annuity or annuities that will form your pensions
  • Past history of the insurance company in dealing with efficient processing of the pension over time.
  • Pension features that may only be available from some insurance companies.
  • Any other factors that may warrant consideration.

The Advantage We Have at www.buyapension.ca
We are independent insurance agents and financial planners. As independent insurance agents we have pricing power to examine and select annuities to form your pension from the widest variety of insurance companies in Canada. This broad choice ensures the best pricing and access to the strongest insurance companies. This independent and broad choice is essential when you are setting up a pension plan to last the rest of your life.

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