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RRIFs ladling into your RRSP water bucket
A Registered Retirement Income Fund (RRIF) is a withdrawal plan registered with Canada Customs and Revenue Agency (CCRA) in which RRSP proceeds are used to provide an annual income. Investment earnings still accumulate on a tax-sheltered basis, though withdrawals are taxed as income.


Eldercare: Under a microscope (product review)

Eldercare PrimePlus is a new and innovate service offered by Chartered Accounts to assist the near elderly maintain their lifestyle and financial independence. The focus is to bring independent qualified personnel advice to pre- and post- retirement planning. This 6-part review examines the details of the plan at length.


Lifetime income solutions for you and yours
Entering retirement calls for a review on how to make ends meet after that regular paycheck stops. For most people there is a shift of focus from saving enough money for retirement to making those retirement savings last. Making the right choices from the vast array of options available is critical since some choices can not be reversed and others can lead to a loss of capital that will be hard or impossible to replace.


Your time is running out
Your time is running out if you turn 69 by the end of the current calendar year. You must close out your Registered Retirement Savings Plan (RRSP) by December 31 of the calendar year when you turn 69. This is because of changes in the law requiring that you collapse your RRSP in the year you turn 69. Previously, the age limit was 71. What can you do when you close out RRSP?


What to look for in a RRIF
Here are some of the features and benefits you should be considering: Flexibility of Payment Options, Probate to Protection, 20% free Withdrawal, and more.


Surprised by the Old Age Security "clawback" on last years income tax return?
If you are 65 years old or older, you are eligible for the Old Age Security (OAS) benefit that is worth up to $5,300 annually. That's the good news, the bad news is that these benefits have to be reported as taxable income and are subject to a "clawback" if your overall income is too high.


Counting on government benefits to augment your income during retirement?
Taking advantage of opportunities within our tax system is even more important now that you're retired than it was during your working years. That's because many of the benefits you're looking forward to are based on income you report annually during retirement. Today, too much reported income on your tax return can result in a reduction in your Old Age Security (OAS), Similar reduction in a reductions based on your income and age credits and medical expense credits. Avoiding this situation takes more than simply cresting tax credits - which reduce just your tax owing.


Turning on the RRIF tap
Registered Retirement Income Funds (RRIFs) are one of the most popular post-RRSP options available on the market today however, much confusion remains about what a RRIF is and how it differs from an RRSP. When the time comes, will you know about the choices available to you? Learn how to turn on your own RRIF tap.


Turning 69, 70 or 71 this year? What you should know about converting locked-in RRSPs into LIFs or RIFs
If you are aged 69, 70 or 71 and have to convert your RRSP to a RRIF before December 31 of this year, you may have a dilemma if you have GIC RRSPs that mature later than December 31 with one or more small trust company that don't offer RRIF products.


Converting your RRSP: Choosing a LIF, LRIF or Life Annuity
For those who own locked-in RRSPs as well the regular variety, entering retirement can be a confusing time. The rules and options that apply to regular RRSPs do not apply to their locked-in cousins, creating the need for different retirement alternatives such as Life Income Funds and Locked-in Retirement Income Funds (LRIFs).


More points to consider re: RRIFs
For many reaching the post-RRSP stage, they are looking for an option that will provide them with access to their money while still giving them some control over their investment. RRIFs are designed to meet all of these goals, making them one of the most popular retirement income management tools.


New age RRIFs
As you may be aware, holders of RRSPs must withdraw their savings or convert them to a RRIF or Life Annuity by the end of the year in which they turn 69. But what is the best option for you? If you are looking for a plan with flexibility, a RRIF may be the way to go.


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Retirement
Income Planning

RRIFs ladling into your RRSP water bucket

Eldercare: Under a microscope

Lifetime solutions for you and yours

Your time is running out

What to look for in a RRIF

Surprised by the Old Age Security "clawback" on last years income tax return?

Counting on government benefits to augment your income during retirement?

Turning on the RRIF tap

Turning 69 this year? What you should know about converting locked-in RRSPs

Converting your RRSP: Choosing a LIF, LRIF or Life Annuity

Points to consider re: RRIFs

New age RRIFs



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Retirement Planning