Families in which one spouse has no or little independent income may find that using a spousal RRSP remains a helpful way to split income. Knowing that the non-earning spouse has assets in his or her own name also can be a comfort
A new OSFI report also finds that the use of registered pension plans dropped, in percentage terms, during the past 10 years
Tax professionals recommend that clients make maximum contributions to their TFSAs- by making withdrawals from RRSP or RRIF assets if no other funding is available. But it should be done in a tax-efficient way
Canadians cite not having enough money as the top reason for not contributing
With just hours to go in this year’s RRSP deadline, emphasize retirement savings over debt repayment
Get clients to start planning for next year’s RRSP season
Paying down low-interest debt, such as a mortgage, can negatively impact retirement savings, says CIBC’s Jamie Golombek
Clients are worried about the effects of the declining Canadian dollar and the impact of falling oil and metals prices
The median contribution was $3,000, up 2.4% from 2012
80% of families with RPPs also had RRSPs/LIRAs, compared with 55% of families without pensions