I wonder if you could sell the winnings for half or something like that? I don't know if it happens in Canada but in the US there are businesses that buy up these things and give a cash pay out for a fraction of the winnings and they keep the pay outs. Dunno if that works up here.
That said 50k a year tax free for 20 years is pretty incredible, would really go a long way for middle class family.
It should be a lump sum. Even in 5 years 50k is not gonna be worth as much as today let alone in 20. False advertising?
Not false advertising, it says in the not so small print.
It's set up as an annuity with an insurance company, because Safeway pays annual insurance premium payment to the insurance company for underwriting the contest, and the insurance company then pays out if someone wins.
The premium is now likely to go up for Safeway.
Company I worked at 15+ years ago held it. It was something like a $690k present value annuity.
There are companies that will take over said annuity and pay out a lump sum, but they can be fairly predatory and you may see only $450k or so of that $690 PV.
Last edited by browna; 11-24-2018 at 10:09 PM.
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Also, neat to see the baby blue blazers. When network sports was a higher standard.
John Shannon had a peice of Sportsnet about his, and Dave Hodge was on HNiC for the first time in 32 or so years, after introducing Ron McLean who moved over from Channel 2 and 7 here in Calgary to be the Toronto host as Hodge moved TO Vancouver. It wasn't too long until he pencil flip that got him fired.
Also, neat to see the baby blue blazers. When network sports was a higher standard.
John Shannon had a peice of Sportsnet about his, and Dave Hodge was on HNiC for the first time in 32 or so years, after introducing Ron McLean who moved over from Channel 2 and 7 here in Calgary to be the Toronto host as Hodge moved TO Vancouver. It wasn't too long until he pencil flip that got him fired.
Man, Dave was pissed that HNIC was not going to show the OT lol
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Yea i dont see the winner complaining at all just saying its kinda sleazy for Safeway to do that.
Not sleazy at all, standard practice and very well documented in the rules. It's fairly understood that almost any big lottery will be either a payout over time, or a much smaller one-time lump sum.
