Can I Transfer RRSP Funds To A TFSA Without Penalty?
by Enoch Omololu, MSc (Econ)
I often get asked by readers whether they can transfer their RRSP to a TFSA without incurring penalties. While the funds in your RRSP and TFSA can be withdrawn at …
by Enoch Omololu, MSc (Econ)
I often get asked by readers whether they can transfer their RRSP to a TFSA without incurring penalties. While the funds in your RRSP and TFSA can be withdrawn at …
by Enoch Omololu, MSc (Econ)
A locked-in retirement account (LIRA) is designed to hold pension funds that you have accumulated in a company pension (defined benefit or defined contribution) when you no longer work for …
by Enoch Omololu, MSc (Econ)
The Canada Pension Plan (CPP) or Quebec Pension Plan, as it is referred to in Quebec, is a mainstay of retirement income for Canadian seniors. While the main CPP retirement …
by Enoch Omololu, MSc (Econ)
The Guaranteed Income Supplement (GIS) is a monthly benefit paid to recipients of the Old Age Security (OAS) pension whose income falls below specific thresholds. GIS income is not taxable. …
by Enoch Omololu, MSc (Econ)
Senior discounts in Canada can help you save money on everyday expenses whether you are 55, 60, or 65 years and older. Older Canadians have competing priorities when it comes …
by Enoch Omololu, MSc (Econ)
RRSP rules abound for how much you can contribute and when you can contribute, the types of investments you can hold, how to designate beneficiaries, and how to withdraw RRSP …
by Enoch Omololu, MSc (Econ)
The Old Age Security (OAS) pension is one of the three main retirement income sources for seniors in Canada. Like the Canada Pension Plan (CPP), OAS is paid out to …
by Enoch Omololu, MSc (Econ)
What happens to your pension benefits if you relocate or retire outside Canada? The reality is that an increasing number of Canadians are choosing warmer climates and destinations with a …
by Enoch Omololu, MSc (Econ)
The TFSA is a useful investment tool to avoid paying taxes on investment returns. However, depending on how the estate of the account holder is set up, there may be …
by Enoch Omololu, MSc (Econ)
Can you avoid paying taxes on RRSP withdrawals? Generally, when you withdraw money from your RRSP, you pay taxes upfront (withholding taxes) and may owe even more taxes when you …
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