RRIF
Changes to the Rules for Ontario Locked-In Accounts
On June 19, 2009, numerous important changes were made to the rules governing locked-in accounts. Locked-in accounts include Locked-In Retirement Accounts (LIRAs), Old Life Income Funds (Old LIFs), New Life Income Funds (New LIFs) and Locked-In Retirement Income Funds (LRIFS). The following points ...
1 Comment | Posted in Financial Planning for Business Owners,Retirement Planning,RRIF,RRSP,Savings and Investments,Tax Planning
April 04, 2010
Creditor Protection for RRSPs and RRIFs
Prior to July 2008, only RRSPs and RRIFs issued by life insurance companies were creditor proof. On July 17, 2008, the regulations under the Wage Earner Protection Act came into force and so has the legislation providing protection to RRSPs. Briefly, the provisions applicable to RRSPs and ...
1 Comment | Posted in Credit and Debt Management,Financial Planning for Business Owners,RRIF,RRSP
August 24, 2009
