| Glossary of
Financial Terms |
|
|
| Click above
to find out how Fiscal Agents can assist you
in RRIF Investing. |
|
|
|
Now
Quick-Nav enabled!
Use this link to connect you directly to additional useful information
related to RRIFs.
|
| |
| 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. |
|
| 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. |
|
| 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. |
|
| 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. |
|
|
|
|
