Budget 2015 proposes to reduce the amount that seniors are required to withdraw from a Registered Retirement Income Fund (“RRIF“) in 2015 and subsequent taxation years. Please find below the comparison between the existing and new minimum RRIF factors.
| Existing and New RRIF Factors | ||
| Age (at start of year) | Existing Factor % | New Factor % |
| 71 | 7.38 | 5.28 |
| 72 | 7.48 | 5.40 |
| 73 | 7.59 | 5.53 |
| 74 | 7.71 | 5.67 |
| 75 | 7.85 | 5.82 |
| 76 | 7.99 | 5.98 |
| 77 | 8.15 | 6.17 |
| 78 | 8.33 | 6.36 |
| 79 | 8.53 | 6.58 |
| 80 | 8.75 | 6.82 |
| 81 | 8.99 | 7.08 |
| 82 | 9.27 | 7.38 |
| 83 | 9.58 | 7.71 |
| 84 | 9.93 | 8.08 |
| 85 | 10.33 | 8.51 |
| 86 | 10.79 | 8.99 |
| 87 | 11.33 | 9.55 |
| 88 | 11.96 | 10.21 |
| 89 | 12.71 | 10.99 |
| 90 | 13.62 | 11.92 |
| 91 | 14.73 | 13.06 |
| 92 | 16.12 | 14.49 |
| 93 | 17.92 | 16.34 |
| 94 | 20.00 | 18.79 |
| 95 & over | 20.00 | 20.00 |
Introduction Global equity markets moved higher over the month of June. Investors carried a relatively…
Introduction Global equity markets moved higher over May 2024 with excitement growing among investors that…
Introduction Global equity markets finished lower over April amid geopolitical tensions, choppy inflation and expectations…
Introduction Central bank rate announcements dominated the headlines in March. Most held steady, while pointing…
Introduction Global equity markets moved higher over the month of February. Investors held largely positive…
Introduction Global equity markets edged higher over January. Sentiment was largely mixed as investors parsed…