Retiree
What type of Investor are you?
Life Income Fund
A Life Income Fund (LIF) is a type of registered retirement income fund that is used to hold pension funds, and eventually payout retirement income. The life income fund (LIF) cannot be withdrawn in a lump sum; rather, owners must use the fund in a manner that supports retirement income for their lifetime. Each year's Income Tax Act specifies the minimum and maximum withdrawal amounts for LIF owners, which takes into consideration the LIF fund balance and the owner's annuity factor.
For more information on Life Income Funds, please contact us.
Registered Retirement Income Funds
(RRIFs)
A registered retirement income fund (RRIF) is an arrangement between you and a carrier (e.g., an investment dealer, an insurance company, a mutual fund company or a bank) that is registered with the Canada Revenue Agency. You transfer property to the carrier from an RRSP, a PRPP, an RPP, an SPP, or from another RRIF, and the carrier makes payments to you.
Earnings in a RRIF are tax-free and amounts paid out of a RRIF are taxable on receipt. There is a minimum amount you must withdraw from a RRIF each year, and this amount generally depends on your age at the time.
For more information, please contact us.
CPP Income Planning Guide
The Canada Pension Plan (CPP) is a mandatory contributory retirement plan that provides you with an inflation-indexed retirement pension, generally beginning at age 65.
Click here to read more.
Guide to Passing on Wealth
Planning for death is difficult, because it’s an emotional topic. However, to preserve wealth, it’s important to employ a checklist to enable a thorough discussion and encourage trigger questions.
Click here to read more.
Ontario's Estate Information Return
Ontario's probate process is governed by the Estate Administration Tax Act, 1998 ("EATA"). In 2011 Ontario enacted significant changes to the legislation. With these regulations in place, Ontario released its Estate Information Return, which executors will be required to file for estates for which an application of probate had not been submitted prior to January 1, 2015.
To learn more about how these regulations may affect you, please contact us or click here.
Your Will Planning Workbook
A great deal of thought and planning needs to go into preparing your Will. Not only should you consider what your estate is currently worth, you should also consider your future sources of wealth.
Click here to download a helpful will planning guide.
Segregated Funds*
Segregated fund contracts offer built‑in features designed to help clients achieve all of these goals to protect and build savings, and do so in ways that may not be possible with other investment vehicles. They appeal to conservative investors, particularly those who worry about market downturns and enable them to retire with confidence. They have elements that attract business owners and professionals, who may have concerns about creditor protection. They provide advantages to anyone looking for strategies to protect an estate for loved ones.
*Subject to any applicable death and maturity guarantee, any part of the premium or other amount that is allocated to a segregated fund is invested at the risk of the contract holder and may increase or decrease in value according to fluctuations in the market value of the assets in the segregated fund.
Annuities
An annuity is an insurance contract where, in exchange for a single lump-sum deposit, an insurer makes guaranteed regular income payments back to the owner of the annuity. These payments contain both interest and a return of principal component. Annuity payments can continue for a chosen period of time or for the lifetime(s) of on or two people.
