The article focuses on the findings of a study on the Canada's tax policy forcing pensioners to make minimum withdrawals from Registered Retirement Income Funds (RRIF). The study released by C.D. Howe Institute in Toronto, Ontario, states that RRIF holders are facing problems in the purchasing...
For example, if your RRIF is valued at$500,000when you're 72, at the start of the year your minimum annual payout will be$27,000(5.40%of the value of the plan at the beginning of the year). Terms and conditionsshow or hide terms and conditions...