Definition

Locked-in retirement account (LIRA)

An account that holds money moved out of a pension plan. You may use one if you are changing companies... Read Full Definition

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Showing results 111-120 of 137
Article

Medical and attendant care expenses

…home, a retirement home, a seniors home or other institution. The attendant must be age 18 or over and can’t be your spouse or common-law partner. Learn more about attendant…

2 min read
Article

What to ask if you need to borrow money

Retirement Savings Plan (RRSP), you could get an RRSP loan as a way to contribute. Using an RRSP loan can ensure you contribute to your RRSP before the annual contribution…

8 min read
Article

Strategies to pay down debt

…If you are considering cutting monthly contributions to your retirement savings or other large investment goals, it may be better to continue with smaller contributions rather than none at all….

7 min read
Article

8 borrowing options

…first home or pay for education. However, when you borrow from your RRSP, the money you take out of the plan won’t be growing tax-free for your retirement and you…

3 min read
Article

Growing your savings with compound interest

…and exchange-traded funds (ETFs). If you hold any of these investments within a registered account like a registered retirement savings plan (RRSP) or tax-free savings account (TFSA) you may be…

3 min read
Article

What happens to your RRIF when you die

…a grandchild Why naming a beneficiary for your RRIF matters What happens to the money in your Registered Retirement Income Fund (RRIF) after your death – and the taxes on…

4 min read
Article

RRIF fees

There is no set-up fee for most Registered Retirement Income Funds (RRIFs), but you may pay other fees once you open a plan. These fees may include an annual administrative…

2 min read
Article

7 TFSA misconceptions

…before making RRSP contributions. Everyone’s tax situation and financial goals are different. A TFSA is designed to be used for any savings goal, not only retirement. Also, TFSA contributions are…

2 min read
Article

Investing and the COVID-19 Experience

…represents about 35% of all Canadians. However, over 8 in 10 of those saving towards goals like their children’s education or retirement continued to make progress towards these goals. Most…

3 min read
Showing results 111-120 of 137