Can I transfer from a retirement annuity to a unit trust?

Question:

Can one switch your old mutual RA fund and invest in a unit trust and then sell your unit trust?

Answer:

The law does not allow you to transfer your money from a retirement annuity to a unit trust. If you are over the age of 55, you could withdraw up to 1/3rd of your money with the remainder having to be used to purchase an annuity.