Donating RRSPs & RRIFsDonating your Registered Retirement Savings Plans (RRSPs) or Registered Retired Income Funds (RRIFs) is a simple and flexible way of supporting Canadian Feed The Children while enjoying significant tax benefits.
BenefitsFlexible and revocable – You have full use of your retirement saving investment while you’re alive plus the gift can be revoked at any time if your financial situation changes. Reduced taxes – Your retirement fund taxes are offset by the tax receipt issued by CFTC for the full amount being transferred. Leave a lasting legacy – Your gift will be directed towards CFTC’s greatest need or you can designate your fund to a particular program or country
How it worksThere are several ways to give a gift of life insurance: 1 Simply include Canadian Feed The Children in the beneficiary information of the plan document and then advise the institution holding your retirement account of the change. 2 By nominating multiple beneficiaries you can still ensure loved ones are cared for while providing a donation to CFTC. 3 A tax receipt for the value of the investment gifted will be issued to your estate and applied toward the final income tax return.
We strongly recommend you consult your own lawyer or other professional advisor about the applicability to your situation.
A Guide to Donating RRSPs & RRIFsThis guide outlines the benefits and steps involved in donating retirement funds.
Will & Estate Planning Consultation
Colleen Bradley Estate Planning Consultant
Please note that these services are not intended to replace professional advice from a lawyer or investment advisor.
Contact UsFor more information about donating RRSPs & RRIFs, or to book a free 30-minute session with our Estate Planning expert, please contact Cheryl Weldon at:
- 1-800-387-1221 or 416-757-1220
- [email protected]