Retirement Planning

If a death occurs without a surviving spouse or a qualified beneficiary, the remaining value of any Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) is added to the deceased's income in the year of death and significantly higher taxes would be paid.

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Donating all or a portion of remaining RRSP or RRIF at the time of your death avoid these extra taxes.

There are two ways to make this type of donation. Ask your financial advisor which one is best for you.

• Designating Perley Health Foundation as the Beneficiary of Your RRSP or RRIF avoiding probate fees as well.
• Donating the proceeds of your retirement fund through your Will. This option provides more flexibilty, for example, the bequest is made only if a spouse predeceases the donor and the donor has no dependent children.

 

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We strongly recommend you consult with your financial advisor if you are planning

to donate your retirement income to the Foundation.

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For more information or to make a donation, please call the Foundation

at 613-526-7173 or email: foundation@perleyhealth.ca