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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Article

How to make RRIF withdrawals

…both a RRIF and an annuity for your retirement income. How and whether you divide your savings depends on your retirement income priorities, interest rates and guaranteed retirement income (such…

6 min read
Article

What is an RRSP and how does it work

…What is an RRSP? A Registered Retirement Savings Plan (RRSP) is a kind of savings plan designed to help you save for retirement. Along with saving for retirement, RRSPs have…

9 min read
Article

How defined contribution pension plans work

…leave your defined contribution plan before retirement? What are your defined contribution pension options at retirement? How is your defined contribution pension plan protected? Summary What is a defined contribution…

6 min read
Article

What is a pension plan and how does it work?

…your retirement depends on: the total contributions made to your account. the investment returns this money earned. At retirement, you use the money in your account to generate retirement income….

4 min read
Article

How defined benefit pension plans work

…amount of your contribution is guaranteed, but not the amount of retirement income. Your retirement income amount may vary depending on how the pension funds are invested. How do you…

7 min read
Article

Making RRSP withdrawals before and after you retire

Your Registered Retirement Savings Plan (RRSP) helps you save for retirement. Once you retire, you can convert it into a Registered Retirement Savings Plan (RRIF) or annuity, to provide a…

4 min read
Article

Investing as we age

…of Ontarians age 45 and over. Key Findings Financial Concerns of Ontarians 45+ The top financial concerns for 25% of Ontarians 45+ are retirement-related, including having enough money for retirement,…

4 min read
Article

9 reasons to open a TFSA

…it in your retirement. If you owe more tax in your retirement years than before you retire, then the RRSP won’t be as much of an advantage. Summary TFSAs can…

5 min read
Article

Putting your financial plan into action

…all other debt Reducing taxes Growing retirement savings Sending your kids to college or university Starting a new business Planning your retirement lifestyle​​ Early retirement years You may want to…

7 min read
Showing results 11-20 of 124