A paper from the C.D. Howe Institute makes several recommendations
The minimum withdrawal rate is being reduced by 25% for 2020
The insurance industry group has recommended changes for the federal budget
Increased life expectancy and a fast grow senior population were key motivators for adding RRIFs to the robo-advisor service
Many financial advocates applaud lower mandatory withdrawals, and some want them abolished altogether. But government depends upon the annual tax revenue
Eliminating minimum withdrawals entirely may be the best way to help retirees enjoy financial security
The draft legislation to put the new RRIF rules into law includes a provision stating that the old rules still apply in three situations
New minimum withdrawal rules for RRIFS will allow retired Canadians to preserve up to 50% more capital to age 90
Expected federal budget surplus may lead to changes
Modern longevity and investment returns spell trouble for holders of RRIFs