Registered retirement income fund

Equitable Life of Canada introduces First Home Savings Account

Retrieved on: 
Monday, September 11, 2023
Equitable Life, Savings account, RRSP, Equitable, TFSA, Registered retirement income fund, Tax-free savings account, Retirement, Life insurance

WATERLOO, ON, Sept. 11, 2023 /CNW/ - Today, Equitable Life® announced the launch of the Equitable Life First Home Savings Account (FHSA) to help Canadians save for their first home.

Key Points: 
  • WATERLOO, ON, Sept. 11, 2023 /CNW/ - Today, Equitable Life® announced the launch of the Equitable Life First Home Savings Account (FHSA) to help Canadians save for their first home.
  • Withdrawals to purchase a first home – including from investment income – are non-taxable, like a Tax-Free Savings Account (TFSA).
  • "We know it is challenging for many Canadians to buy their first home" says Cam Crosbie, Executive Vice President, Savings and Retirement.
  • "As a company dedicated to helping people achieve their financial goals, we are proud and excited to launch the Equitable Life FHSA.

Canadians eagerly adopting new First Home Savings Account (FHSA) to save and invest for their down payment - "phenomenal early uptake," says RBC

Retrieved on: 
Thursday, August 3, 2023
Online, RBC, ETF, RBC Direct Investing, Canada Revenue Agency, RESP, RRSP, Calendar, Canadians, Research, Global Industry Classification Standard, First-time home buyer grant, Lista de espécies da flora do Brasil, TFSA, Registered retirement savings plan, Registered retirement income fund, Retirement, Free Legal Advice Centres, Biophysical environment, Knowledge, ESG, Ageing, HBP, PACS, Security (finance), Real estate, Financial services, Financial adviser, Bank, Investment, Social

"Since our April launch, tens of thousands of RBC FHSAs have been opened by Canadians – phenomenal early uptake of this innovative way to save and invest for a first home."

Key Points: 
  • "Since our April launch, tens of thousands of RBC FHSAs have been opened by Canadians – phenomenal early uptake of this innovative way to save and invest for a first home."
  • Available through RBC Direct Investing and RBC InvestEase, RBC FHSAs can be opened digitally through either of these online investment services and through RBC Online Banking.
  • To check out RBC FHSA options, more information is available at www.rbc.com/firsthome or by visiting any RBC branch to have a conversation with an advisor.
  • RBC Direct Investing: A self-managed, easy to use digital investing platform that enables you to trade when and how you want.

In the Face of a Potential Recession, Americans Feel Unprepared for Retirement and Are Looking for Protection

Retrieved on: 
Wednesday, September 28, 2022
Income, Time, Registered retirement income fund, Retirement, Life, Personality, Attention, CEO, Lifetime income tax, Finance, Solution, Head, PGIM, Alliance, Research, Awareness, Consumer, Life insurance, Insurance, Financial adviser, Financial services, COVID-19

WASHINGTON, Sept. 28, 2022 /PRNewswire/ -- As the drumbeat of a potential recession grows louder and Americans continue to face the aftereffects of the pandemic, the number of Americans who believe their retirement savings and sources of income will not last them throughout their lifetime is on the rise. According to the third Protected Retirement Income and Planning Study from the Alliance for Lifetime Income and CANNEX, less than half of respondents (48%) believe their retirement savings and sources of income will last them throughout their lifetime—a 13% drop from a year ago. However, among those who have an annuity, 74% believe their savings and sources of income will last their lifetime, compared to only 43% for those without an annuity.

Key Points: 
  • Nearly half of non-retired consumers ages 45-75 are saving less than 10% of their annual income for retirement.
  • Our vision is for a country where no American has to face the prospect of running out of money in retirement.
  • We believe focusing attention and conversations on retirement income that lasts throughout life leads to greater retirement security for millions of Americans.
  • The firm provides financial institutions with the ability to evaluate and compare various guarantees associated with retirement savings and retirement income products.

Retirement Income Consortium Launches to Address Retirement Security Challenges

Retrieved on: 
Wednesday, May 4, 2022
BlackRock, Prudential Financial, NEW, SECURE Act of 2019, NYSE, Consortium, Registered retirement income fund, Allianz, Certification, AllianceBernstein, Retirement, Adoption, Income, Principal Financial Group, Education, Solution, Technology, 2020 United States federal budget, Curriculum, Financial adviser, Financial technology, Broadridge Financial Solutions, Nationwide

NEW YORK, May 4, 2022 /PRNewswire/ -- To help accelerate adoption of guaranteed income solutions in retirement plans, global Fintech leader Broadridge Financial Solutions, Inc. (NYSE:BR), has officially launched an initiative to bring together comprehensive expertise in the retirement space in support of the effort to make financial security a reality for all Americans.

Key Points: 
  • The Retirement Income Consortium (Consortium) has officially launched with the shared goal of supporting greater access for workers to retirement income solutions.
  • It launched the Consortium to create a due diligence framework for retirement income solution evaluation and as a forum to work with retirement income solution providers and others to better educate advisors and plan sponsors.
  • The American Retirement Association has also joined the Consortium as part of its initiative to create a curriculum for a new retirement income certificate program.
  • Present a free educational webinar series covering the essentials of in-plan retirement income, starting with "Retirement Income: Why Now?"

Fraser Institute News Release: Government policies discourage older Canadians from continuing to work

Retrieved on: 
Thursday, April 21, 2022
Ageing, Government, Population, Barrier, Fraser Institute, Economics, University, Canada Pension Plan, Research, Work, Public policy, Old Age Security, Registered retirement income fund, GLOBE, Bangladesh Technical Education Board, Workforce, Entrepreneurship, Unemployment, Employment, Contract, RRIF, Retirement, Income, Quality of life, Health insurance, Life insurance, Medicine

Currently, if seniors want to continue working after age 65, they experience the following consequences.

Key Points: 
  • Currently, if seniors want to continue working after age 65, they experience the following consequences.
  • Reduction in government benefits: Typically, seniors who continue to work after age 65 will incur clawbacks (essentially, benefit reductions) for the Canada Pension Plan, Old Age Security and the Guaranteed Income Supplement.
  • Reduction of government pension benefits: Some government pension programs are based on income, with clawback rates that reduce benefits if recipients earn income from working.
  • Its mission is to improve the quality of life for Canadians, their families and future generations by studying, measuring and broadly communicating the effects of government policies, entrepreneurship and choice on their well-being.

Abundant Wealth Management Is Now a Retirement Income Store

Retrieved on: 
Thursday, November 11, 2021
Retirement, Education, Registered retirement income fund, Insurance, Student Investment Advisory Service, LLC, Trust, AWM, Uncertainty, Risk, Pension fund, Financial adviser

FORT LAUDERDALE, Fla., Nov. 11, 2021 /PRNewswire/ -- The Retirement Income Store ( https://theretirementincomestore.com ) is proud to announce that Abundant Wealth Management ( https://abundantwealthmanagement.com ) in Dallas, Texas is now A Retirement Income Store.

Key Points: 
  • FORT LAUDERDALE, Fla., Nov. 11, 2021 /PRNewswire/ -- The Retirement Income Store ( https://theretirementincomestore.com ) is proud to announce that Abundant Wealth Management ( https://abundantwealthmanagement.com ) in Dallas, Texas is now A Retirement Income Store.
  • As a Retirement Income Store, AWM focuses on helping those who are retired or nearing retirement take a more sensible approach to planning and saving for retirement known as Investing for Income.
  • About the Retirement Income Store: Launched nationally in January of 2019, The Retirement Income Store is a subsidiary of Sound Income Strategies, LLC.
  • About Abundant Wealth Management: Founded by Eric Lardner, Abundant Wealth Management serves the needs of those who are retired or nearing retirement.

CPABC: Time is running out to put money in your RRSP

Retrieved on: 
Friday, January 31, 2020
Pensions in Canada, Finance, Money, Economy, Annuities, Registered Retirement Savings Plan, Tax deferral, Life annuity, Registered retirement income fund, Tax-Free Savings Account, Pensions in Canada, Finance, Money, Economy, Annuities, Registered Retirement Savings Plan, Tax deferral, Life annuity, Registered retirement income fund, Tax-Free Savings Account

Remember, an RRSP is a tax deferral vehicle you will be taxed on the funds once you make a withdrawal from your RRSP.

Key Points: 
  • Remember, an RRSP is a tax deferral vehicle you will be taxed on the funds once you make a withdrawal from your RRSP.
  • A spousal RRSP can help shift future income from a higher income spouse to a lower income spouse.
  • This can provide some tax savings when the receiving spouse withdraws funds from his or her RRSP, RRIF, or annuity.
  • Remember, the interest you earn on your RRSP investments is not taxed as long as it stays within your RRSP.