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Impact of CRA RRSP requirements on Women working beyond 71 years of Age

Category:LEGISLATION
Sub-Category:INCOME TAX ACT
Resolution Number:600.50.49
Club:London
Province:Ontario
Year:2017
Status:Open
Reaffirmed:
Comments:

THEREFORE BE IT RESOLVED that BPW Canada urges the Government of Canada, and the Minister of Finance to adjust the RRSP regulation to 6 years following a person’s retirement before an RRIF is required to be established and taxes paid on the amount being held in the RRIF;
FURTHER BE IT RESOLVED that BPW Canada urges the Government of Canada, and the Minister of Finance in support of the adjustment to carry out a review of the impact on women who work beyond 71 years on the loss of their pension savings as they age, due to the failure to correct this regulation on Pension supplements payments required

 

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Article ID: 1698