A “Gift Annuity” is a written agreement by which you make an irrevocable gift to the Society for the Propagation of the Faith and receive a guaranteed payment for life in return. It binds the donor and the Society when the agreement is accepted and signed by both parties.
The guaranteed payment remains the same for life. After your death, the remaining principal will be used for the support of needy missions around the world.
ANNUITY RATES CURRENTLY OFFERED
| AGE | MINIMUM AMOUNT | MALE | FEMALE |
|---|---|---|---|
| 65 | $ 20,000 | 5.44% | 5.10% |
| 70 | $ 15,000 | 6.02% | 5.62% |
| 75 | $ 15,000 | 6.65% | 6.38% |
| 80 | $ 10,000 | 7.44% | 7.16% |
| 85 | $ 10,000 | 8.49% | 8.26% |
| 90 | $ 10,000 | 9.97% | 9.79% |
| 93+ | $ 10,000 | 10.00% | 10.00% |
FAQs regarding Annuities
If you want to support the work carried out by the Propagation of the Faith around the World.
If you have money that you wish to invest.
If you prefer to give now rather than later in a Will.
Wills are public documents – “Gift Annuity” is private and confidential.
If you want peace of mind – the income is guaranteed for as long as you live.
Payments are deposited directly and safely into your bank account, or mailed to you if you prefer.
You may wish to receive independent financial or legal advice before entering into an Agreement. After signing, you have up to 30 days to cancel the Gift Annuity Agreement and receive a full refund.
You qualify for preferred tax treatment. The payment you receive will not be fully taxable and it may even be completely tax free, depending on your age. A T4A tax slip will be sent to you at the end of each year for that portion, if any, of your income that is taxable. The Gift Annuity you purchase from our Society is a prescribed annuity as per the Income Tax Act. Canada Revenue Agency considers a portion of your gift annuity to be a charitable donation and you will receive a receipt for income tax purposes.
The older you are, when you apply for a “Gift Annuity” the higher your rate of return, and the lesser your taxes on the income from the “Gift Annuity”.
Your “Gift Annuity” principal is kept invested as long as you live. We are a registered CHARITABLE ORGANIZATION (BN 12888-2883-RR0001).
“Gift Annuities” are available at any time beginning at age 65. The minimum gift for new annuitants is $10,000.00.
Choose the income payment frequency which best meets your need – annually, semi-annually, quarterly or monthly. To qualify for a monthly income payment, a minimum gift of $10,000.00 is required.