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Mandatory RRIF withdrawals draw fire

Thursday, July 16, 2015 @ 8:00 PM | By Jeff Buckstein

The possibility of seniors outliving the tax deferred savings they have amassed in their registered retirement income plans remains a material risk amid rising life expectancy and a low interest rate savings environment, says a report issued by the Toronto-based C.D. Howe Institute.

At issue are mandatory minimum annual withdrawals which begin at age 71, the age at which holders of registered retirement savings plans must terminate those plans and elect to either roll the proceeds into a RRIF or take out an annuity. The mandatory...