What Happens to Your RRSP at Age 71?

In the past, most Canadians relied heavily on employer pension plans and government pension plans to provide a source of income in retirement. These days, many employers no longer offer pension plans, and individuals frequently change careers and employers. As such, the Registered Retirement Savings Plan, or RRSP, has become one of the most common retirement savings plans in Canada. […]

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RRSP to a RRIF: 10 Things to Know

1. What is a RRIF? So you’ve been contributing to your RRSP for many years and are now ready to retire.  What do you do with your RRSP now?  That is where RRIFs come in.  RRIFs (Registered Retirement Income Funds) are basically the successor to RRSPs.  You can convert some or all of an RRSP to a RRIF at any time, […]

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