[PDF] 96512 FS_35174_RRIF_0916_Eindd - RBC PDF rrif-fact-sheet-fall12-e.pdf

When converting an RRSP to a RRIF, the been established by the Canadian (RRIF) allows you to gradually withdraw funds for your use today and in the

Dès la période de réflexion et la décision d'immigrer au Canada et jusqu'à son intégration et inclusion dans la communauté, l'immigrant a besoin d'

[PDF] The Canada RIF - Canada Savings Bonds

The Owner can transfer cash held in a RRSP/RRIF to The Canada RIF only during the CSB/CPB campaign period The minimum amount to be transferred-in is

[PDF] FONDS DE REVENU DE RETRAITE, RIF- - Accueil - Placements NEI

revenu du Canada (ARC), et à admettre les fonds mentionnés IL EST ENTENDU ET CONVENU, entre le Rentier et le Fiduciaire, que la totalité des fonds

[PDF] Lower RRIF minimum withdrawals for 2020: Canadas - CIBC

Lower RRIF minimum withdrawals for 2020: Canada's COVID-19 response plan May 5, 2020 Jamie Golombek, Debbie Pearl-Weinberg Tess Francis

[PDF] 96512 FS_35174_RRIF_0916_Eindd - RBC

When converting an RRSP to a RRIF, the been established by the Canadian (RRIF) allows you to gradually withdraw funds for your use today and in the

[PDF] RÉSEAUX en IMMIGRATION FRANCOPHONE - RIF-SK

Le cabinet Socius recherche et conseils a été chargé par Immigration, Réfugiés et Citoyenneté Canada (IRCC) de mener une recherche portant sur les

[PDF] HISTORIQUE DU RIF-SK

HISTORIQUE DU RIF-SK En 1999, la Fédération des communautés francophones et acadiennes (FCFA) du Canada organise un processus de réflexion

[PDF] RRIF payments and withdrawals - RBC Wealth Management

RRIF payments These amounts withheld are remitted to the Canada Revenue Agency (CRA) on your behalf and are a credit towards your total taxes payable

[PDF] RRIF minimum withdrawals - RBC Wealth Management

your RRIF If you choose to receive the minimum amount from your RRIF, withholding tax will not apply to this payment if you are a resident of Canada If

[PDF] Eliminating Mandatory RRIF Withdrawals - Amazon AWS

RRIF rules mandating minimum yearly withdrawals at prescribed rates ignore these demographic realities • In 1992, a Canadian starting to withdraw funds from a

[PDF] c'est quoi canada rif

[PDF] dn canada rit/rif francais

[PDF] gouvernement du canada rif

[PDF] canada rif francais

[PDF] detroit de magellan

[PDF] les détroits en europe

[PDF] detroit afrique du sud

[PDF] cancer du poumon au maroc

[PDF] programme national de lutte contre le cancer au maroc

[PDF] cancer maroc statistique 2016

[PDF] epidemiologie cancer maroc

[PDF] incidence cancer maroc

[PDF] cancer grade 3 chance de survie

[PDF] cancer rein guerison

[PDF] que veut dire taux de survie a 5 ans

What is a RRIF?

A RRIF is an extension of a Registered

Retirement Savings Plan (RRSP).

While your RRSP is used to save for

your retirement, a RRIF is used to systematically draw income during your retirement.

RRIFs offer the same investment options

and tax-deferred growth as RRSPs.

However, once an RRSP is converted

to a RRIF, you can no longer make contributions and you are required to make a minimum annual withdrawal, as set out by federal regulations.

The funds you withdraw from your

RRIF are taxable as this amount is added

to your taxable income for the year.

Converting an RRSP to a RRIF

You can convert your RRSP holdings to

a RRIF at any time. However, an RRSP

must be converted to a RRIF or annuity, or paid out in a lump sum by the end of the calendar year in which you turn age 71. If you convert your RRSP to a RRIF, payments will not be required until the calendar year following the year the RRIF account was opened.

When converting an RRSP to a RRIF, the

investments held in the RRSP can be transferred directly to the RRIF account.

This way, RRSP investments are not

required to mature or be liquidated before being transferred to a RRIF.

Calculating your minimum payment

Once your RRSP is converted to a RRIF,

you can withdraw any portion of your

RRIF, as long as you meet the minimum

withdrawal each year. Your minimum payment is based on when the RRIF was established, your or your spouse's age and the amount currently held within the RRIF.Before age 71

The minimum payment for individuals

who convert their RRSP to a RRIF, and are aged 70 or less at the beginning of the year, is calculated based on the following formula:

After age 71

After the year in which you turn 71,

your minimum payment is determined by a percentage of the market value of your RRIF. This percentage has been established by the Canadian government and is provided in the chart on the next page. You've spent years saving for your retirement. Now's the time to enjoy the many benefi ts of these savings, so you can live on your own terms. A Registered Retirement Income Fund (RRIF) allows you to gradually withdraw funds for your use today and in the future.

RRIF market value

on January 1 of current year 1

90 - age on January 1

of current year x

AgeMinimum Amount

715.28%

725.40%

735.53%

745.67%

755.82%

765.98%

776.17%

786.36%

796.58%

806.82%

817.08%

827.38%

837.71%

848.08%

858.51%

868.99%

879.55%

8810.21%

8910.99%

9011.92%

9113.06%

9214.49%

9316.34%

9418.79%

95 & over20.00%

Transferring funds upon death

Any remaining funds in your RRIF become

taxable income on the date of your death, unless you have a spouse, or have children or grandchildren under the age of 18 who are financially dependent on you at the time of your death. In this case, the funds in your

RRIF can be transferred to an RRSP or RRIF

of your spouse, or of a child with a disability, without triggering taxable income, or tax can be deferred by purchasing annuities to age 18 for children without disabilities. Considerations for when and how much to withdraw

Income planning in retirement

Budgeting quite often plays a big part in

retirement income planning. It's a good idea to first understand what your regular monthly living expenses would be, plus any other miscellaneous expenses such as travel or entertainment. You are then in a position to review all your sources of retirement income and assess how your RRIF payments will need to factor into meeting your retirement needs. If you do not have to rely heavily on RRIF income, take advantage of the flexibility in the timing and amount of withdrawals to minimize the impact on your taxes and other payments.

Tax planning strategies

Since RRIF payments are considered taxable

income in the year you withdraw the funds, they are added to your "other income" for tax purposes. Remember that once you convert your RRSP to a RRIF, you're required to withdraw funds each year and will be taxed on those funds. That's why the timing of your RRIF conversion is so important.

Taking payments earlier than

needed, or more than needed, may unnecessarily place you in a higher marginal tax bracket. Once funds are withdrawn from your RRIF, you will lose the benefit of tax deferred growth.

If you don't immediately require the full

amount of your minimum payment, consider contributing what's not needed to a Tax-Free Savings Account (TFSA). If your spouse is younger than you, you may want to base minimum payments on their age, allowing for lower minimum payments and tax deferred growth of your investments for a longer period of time. Another strategy is to take advantage of income-splitting opportunities available with RRIF and other eligible pension income, which could help reduce the overall taxes you pay.

Minimizing potential clawback impact

Your taxable income impacts your eligibility

for certain government benefits, such as

Old Age Security. Any additional income

may result in a reduction, or clawback, of some of these benefits, so factor in timing and the amount you need to withdraw before making a decision.

Choosing the right investment mix

for your RRIF

Since your RRIF can hold a variety of

investments, you may want to select a diversified portfolio. You may consider purchasing different types of investments to allow for both the flexibility of short- term funds to withdraw annually (such as GICs), as well as the potential for your savings to experience long-term growth (such as with mutual funds and equities).

Estate considerations

Consider naming your spouse as the

"successor annuitant" of your RRIF.

This designation allows RRIF payments

to continue to go to the surviving spouse, without interruption, and minimizes estate administration and taxes.

Talk to an RBC advisor

Whether you're in the midst of planning

or already enjoying your retirement years, now's the perfect time to speak to an RBC advisor. They can help you look into options for converting your RRSP to a RRIF, as well as provide strategies to maximize the benefits of your RRIF.

The material in this article is intended as a general source of information only, and should not be construed as offering specific tax, legal, financial or investment

advice. Every effort has been made to ensure that the material is correct at time of publication, but we cannot guarantee its accuracy or completeness. Interest rates,

market conditions, tax rulings and other investment factors are subject to rapid change. You should consult with your tax advisor, accountant and/or legal advisor

before taking any action based upon the information contained in this article.

RBC Financial Planning is a business name used by Royal Mutual Funds Inc. (RMFI). Financial planning services and investment advice are provided by RMFI. RMFI,

RBC Global Asset Management Inc., Royal Bank of Canada, Royal Trust Corporation of Canada and The Royal Trust Company are separate corporate entities which are

affiliated. RMFI is licensed as a financial services firm in the province of Quebec.

quotesdbs_dbs15.pdfusesText_21

[PDF] [PDF] 96512 FS_35174_RRIF_0916_Eindd - RBC