Thursday, September 15, 2016

RRIF Withdrawals Based on Younger Spouse's Age

11:36 AM


Question:

Is it possible to use my spouse's DOB for my RRIF payments? Also, can I  control how much income comes from a RRIF, subject to the minimum?

Finally, how can I see the annual RRIF income coming out of my plan?

Answer:

You can use the spouse's age by selecting this information on the Option page  under 'Registered'

There are detailed pop up tables for the asset and income cash flow on the results page. The links to the pop ups are under the last header of the Accumulations and Income Forecast tabs.

You can control how much income comes from the RRIF by selecting the option under 'Registered' on the 'Options' page. You can select an annual amount or minimum payments, and select the age of commencement of payments from the RRIF. Please note that the actual payment may differ if more funds are required to meet the retirement income goal in any particular year.

You also have the option of starting registered withdrawals as late as possible, or at retirement.

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