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Assante Capital Management Ltd.

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Receiving withdrawals from your RRIF?

Lower Payments

Clients receiving minimum RRIF payments, are now subject to the lower minimum payment amount as introduced in the 2015 federal budget.

The annual minimum payment ("AMP") amount is approximately 2% less than the previous rate.

Click here for the new annual minimum payment rates.

This change is effective for 2016, however, you were eligible to withdraw the new minimum amounts for 2015 RRIF withdrawals.

This means you have the ability to recontribute the excess amount back to your RRIF. This must be done by February 29th 2016.

Your annual minimum payment is calculated using the market value as of January 1st and the AMP rate corresponding to your age on January 1st.

For example:

$450,000 RRIF market value on January 1, 2016; age on January 1, 2016 is 73; 2016 annual minimum payment is $24,885

If you require your annual minimum payment to be increased, please contact our office.

For more information please contact TMFG SERVICE by emailing [email protected] or phone 905 771 5200 and speak with Patrizia or Socheata.

The McClelland Financial Group of
Assante Capital Management Ltd.

Our purpose is to simplify &
enhance the financial lives
of our clients

 


Our Services Include:

7787 Yonge Street, Thornhill, ON, L3T 7L2
www.tmfg.ca | [email protected]
For more info please call: (905) 771-5200
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Copyright © 2014 The McClelland Financial Group.

Assante Capital Management Ltd. is a member of the Canadian Investor Protection Fund and is registered with the Investment Industry Regulatory Organization of Canada. This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please make sure to see me for individual financial advice based on your personal circumstances. Insurance products and services are provided through Assante Estate and Insurance Services Inc.

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