Many cheered when the federal government lowered the minimum RRIF withdrawals in the 2015 budget, reports Advisor.ca.
Many cheered when the federal government lowered the minimum RRIF withdrawals in the 2015 budget, reports Advisor.ca.
With Canadians living longer and earning lower fixed-income returns, proponents said the move meant clients could stretch RRIFs further.
But for clients who converted RRSPs into annuities—specifically, guaranteed minimum withdrawal benefit (GMWB) products—the lower RRIF minimums may mean lower benefit distributions.
Read the whole story on Advisor.ca.
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