CAPSA replaces 2004 guideline, consolidates risk management guidance
Feds follow lead of some provinces, which offer much more access to money; rules vary from province to province
Changes give Canadians more financial flexibility
LIF holders now have three options to get at their money
CARP and the Ontario Coalition of Independent LIF-Holders applaud PC leader John Tory’s announcement today that, if elected, a PC government will allow Ontarians to unlock 100% of their Life Income Funds (LIFs) – half at age 55 and the full amount at age 65. The two organizations say they fully support this policy that […]
Ottawa removes requirement to convert federally regulated LIFs to life annuities at age 80
In today’s budget, Ottawa proposes removing the requirement to collapse life income funds at age 80 for former employees of federally regulated industries, such as banks, federal crown corporations and telecommunication companies.Present regulations of the federal Pension Benefits Standards Act stipulate that locked-in RRSPs must be converted into LIFs when the beneficiary reaches age 69. […]
Monthly GIS benefits to climb