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 |
Global markets faced renewed pressure in October as high energy prices, persistent inflation and trade…
From tariffs and trade disputes to rising interest rates and stubborn inflation, this month's update…
August was a strong month for global markets, but uncertainty remains. Learn about the key…
Global events continue to shape the economic outlook, creating new opportunities and risks for investors.…
How are inflation, interest rates and global events influencing markets? While global equity markets were…