Tuesday, March 4, 2014

'What If' Scenarios

10:35 AM


My spouse and I are recently retired with DB pension, SERP payouts, CPP and RSP's. I need to know when to draw down RSP's in order to minimize tax and minimize OAS claw-back. Does this function exist in RetireWare?


You can try various scenarios for the DB pensions and SERPS to see what works best. If you are well-funded, the RRSP withdrawals would start at the latest age. If you want to withdraw RRSPs at an earlier age, you could enter your estimated annual income from RRSPs in 'Other Income' and see the impact of withdrawing them over a few years to minimize claw-back, instead of dragging it out with minimum withdrawals.


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