Tontines in Canada | General financial discussion | Discussion forum

Briguy said
Interesting article about Guardian Capital setting up 3 new tontine funds, following the lead of Purpose's Longevity Pension Fund. It's described as being similar to a defined benefit pension fund or an annuity, but seems more interesting since you get to benefit from others in the fund who died prematurely, plus you can withdraw your original money out ( with substantial penalties ) . It's meant for people who expect to live 20 years. It'd be interesting to get feedback from others on this.

https://www.moneysense.ca/columns/retired-money/tontines-in-canada/

  

Sounds like an annuity, or, more accurately, a far worse version of it. No thanks!

Cheers,
Doug