Understanding the New RRIF Minimum Withdrawal Rules

On March 25, the Canadian federal government passed legislation, as part of its COVID-19 Economic Response Plan, that reduces the Registered Retirement Income Fund (RRIF) minimum that must be withdrawn by 25 per cent for 2020. This measure allows seniors to reduce the withdrawal of unnecessary funds from their RRIF at a time when the values of their RRIFs may have declined. Let’s investigate what this reduction in the RRIF minimum means because you may be surprised by all of the implications and planning considerations.  Click here for more info:https://retail.manulifeinvestmentmgmt.com/ca/en/viewpoints/retirement-planning/understanding-the-new-rrif-minimum-withdrawal-rules