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Procedures and FAQ

Voluntary 25% Reduction on 2020 Minimum RRIF and LIF Payments

Apr 21, 2020 10:00:00 AM / by iA

The Federal Government of Canada has announced a set of economic measures as part of their Covid-19 Economic Response Plan. That statement included proposed changes to the calculation of the 2020 required minimum withdrawal for registered retirement income funds (RRIF) or Life Income Funds (LIFs) for the year 2020.

See the details that this measure may have for your RRIF and LIF clients and actions you can take.

 

Topics: Savings, Brokerage, Career, WFG

Written by iA