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Desjardins is the first financial institution in Canada to offer advanced life deferred annuities for individual savings

December 6, 2023

Montreal, December 6, 2023 — Desjardins is expanding its selection of responsible annuity products by allowing members and clients to purchase an advanced life deferred annuity (ALDA) through a Financial security advisor. That makes Desjardins the first financial institution in Canada to make this tax-efficient product available to investors who don't need to withdraw from their retirement accounts in the early years of retirement to delay taxation past their 71st birthday. With an ALDA, investors can postpone their annuity payments and reduce the risk of running out of income during retirement.

"Desjardins is continuing to innovate in the realm of investment solutions in an effort to help investors be more financially empowered. With the ALDA, advisors now have an additional tool at their disposal to help clients manage the risk that they might run out of savings in their later years while deferring taxation," underscores Philippe-Olivier Dumas, Section Manager, Product Development, Guaranteed Investment Funds and Annuities Team. 

Just like all other responsible annuity products through Individual savings, ALDA premiums will automatically go into investments that meet strict environmental, social and governance (ESG) criteria. The securities selected will include or exclude issuers based on specific criteria, and investments will be monitored and managed to encourage issuers to improve their ESG practices. For more information, see our Responsible Investment Policy – Responsible Annuities.

Desjardins Insurance refers to Desjardins Financial Security Life Assurance Company.

For more information (media inquiries only):
Public Relations, Desjardins Group
514-281-7000, ext. 5553436