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Stock impact report

Product news: Desjardins brings first ALDAs to market [Advisor.ca (Canada)]

Manulife Financial Corporation (MFC) 
Last manulife financial corporation earnings: 2/12 05:00 pm Check Earnings Report
US:NYSE Investor Relations: manulife.com/investor-relations
Company Research Source: Advisor.ca
KEY TAKEAWAYS Canada’s first ALDAs New ETF provider Social impact fund launches Sagard buys stake in PE firm Two years after legislation passed allowing insurers to put advanced life deferred annuities (ALDAs) on their shelves, the first such products have come to market. Desjardins Group said Wednesday that it’s offering ALDAs, which allow retired clients to delay withdrawals from registered accounts until later in retirement. Clients can transfer up to 25% of the assets held in their RRSP or RRIF (to a maximum of $160,000 in 2023 and $170,000 in 2024) into an ALDA. The annuity defers payments — along with taxes on those payments — until the client is 85. The financial industry has for years asked government to push back the age at which RRIFs must be drawn down as Canadians work and live longer. The idea is that ALDAs allow clients to offset longevity risk by preserving assets for later in retirement while reducing taxable income — and potentially avoiding clawbacks on old ag Show less Read more
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