Lump Sum Withdrawal or Series of Withdrawals

Are you retired and have not yet decided on your retirement income options?

Is this type of savings for you?

  • You are retired and you have not yet decided on your retirement income options
  • You need cash occasionally and not on a regular basis
  • Your RRSPs consist of a cash portion to allow you to make one or more withdrawals at the right time
Outlines

Total or partial withdrawal :Taxes are deducted at source following any withdrawal from an RRSP

Deadline :You have to transfer your RRSP into an annuity no later than December 31 of the year you turn 71

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