Group Annuity

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Group Annuity

An annuity purchased by a number of people who negotiate collectively. A group annuity operates like other annuities, except that contributions are paid by (and payments are made to) more than one person under a single plan. See also: Group insurance.
References in periodicals archive ?
group disability insurance market and a significant player in the annuity, group life and retirement plan market.
Today Sun Life Assurance holds leading positions in Canada's individual life and health, annuity, group pension and group life and health markets.