A Registered Retirement Income Fund or RRIF is meant to give you financial support during your retirement. It is, by far, an extension of your Registered Retirement Savings Plan or RRSP. There are so many advantages attached to having an RRIF account, such as: 1. It gives you the maximum flexibility in creating an income […]
OAS or Old Age Security is the Government of Canada’s pension plan. It is a monthly payment that is available to people of 65 years and above. The applicants must also satisfy the legal Canadian status residence requirements. Generally, it is not required to apply for this pension, but otherwise, you can apply to Employment […]
The Canada Pension Plan is a monthly income retirement plan that provides retirement, disability, and survivor benefits to contributors and their families. This retirement plan is funded by Canadian employees as well as employers. To qualify for this retirement plan you: • must be at least 60 years old • must have made at least […]
Saving for retirement is important but if you follow bad advice, you could end up setting yourself back. Here are three dangerous guidelines that you should probably ignore: Follow the 4% Rule This rule says that if you begin with 4% of your savings balance in your first year of retirement and then adjust subsequent […]
The age to claim your CPP benefits will depend on various factors so compare the different positives and negatives. Read on to find out more.