Annuity contract

An annuity contract is a contract under which, in consideration for capital originating directly or initially from a supplemental pension plan, an insurer guarantees to the purchaser a life pension of which payment begins immediately after the transfer of the capital or is deferred to a later date.

Worthknowing about...

The purchaser's age when payment of the annuity begins (as set out in the annuity contract) can be different from the age set out under the supplemental pension plan from which the capital comes.

An annuity contract for which the amounts come from a plan subject to the Supplemental Pension Plans Act is supervised by Retraite Québec. It does not need to be registered with Retraite Québec.


The purchaser of an annuity contract is a former member of a supplemental pension plan, a member or his or her spouse.

Legal references

Regulation respecting supplemental pension plans (sections 30 and 31 This link will open in a new window.)

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