How often do you check the performance of your Retirement Annuity?

For many people taking out a Retirement Annuity is very important as it obviously ensures some kind of financial assistance when you finally decide to retire. Depending on when you took out the RA, you may not have paid close attention to how it has been performing over the years.

The bottom line is if your current RA is underperforming according to your projections, you should definitely consider making a change. Are you aware that you can do this fairly easily? If you currently have an RA with one company and you want to move it over to another investment or insurance company, you can do so by completing a Section 14 transfer.

With this, you can request a transfer quote from the company your RA is currently with and request a quote from the new company you want to invest it with. There is a transfer fee involved depending on the amount being transferred. Your Financial Advisor will need to present numbers to you so you can decide if the move is a good one ie: will the growth of the RA outweigh the transfer fee in the long run.

If you aren’t happy with how your RA is performing, then you should most definitely consider your options.

We have also done a short video on this below for more clarity.

We can assist you with everything discussed in this video (Retirement or Financial Planning). Leave your details below & we’ll get a licensed Financial Advisor to contact you.

The InsuranceFundi Team