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Tontines in Canada: Moving from theory to practice as a solution to our retirement crisis
– moneysense.ca
Milevsky, who works at the Schulich School of Business at York University, has now partnered with Canadian financial services firm Guardian Capital LP to bring his theories to life as a commercial proposition: One that may help millions of retiring baby boomers, and ultimately those who follow them, to overcome the anxiety of outliving their money. This guide will show you what tontines are, how they work and which tontines are available for Canadians. It can also help you research the best tontines for you and your situation. But, first…
What is a tontine?
Tontines can be compared to life annuities—or for that matter, defined benefit pension plans. A tontine works by pooling savings from multiple investors. Essentially, those who die earlier subsidize the lucky few who live longer…