The Liberals shifted the marker this year, dropping the minimum for each senior by 25%
A tax expert at the IAFP symposium discussed the factors to consider
Many retirees are ineligible for the government assistance being offered during Covid-19
The federal government has lowered the minimum RRIF withdrawal rate for 2020
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