Wealth Management
Guaranteed Minimum Withdrawal Benefit (GMWB) Plans
These are segregated fund based plans that will pay a guaranteed level of income for life beginning at a stated age, but generally no earlier than age 50. GMWB’s provide the main benefit of a life annuity (lifetime cash flow) without the primary drawback ( a high probability that there will be no residual payment to your estate beneficiaries). The lifetime payout rate guaranteed will depend on your age when you select this benefit. A 65 year old would normally expect a 5% payout rate to be guaranteed. In non registered contracts, the payment is tax advantaged relative to GIC income. We can prepare an illustration of this concept to reflect your individual situation.
Call David Scrivens or Ken Browness at 613-236-9101 for additional information
Registered Disability Savings Plan (RDSP) is a new plan that will allow funds to be invested tax-free until withdrawal. It is intended for the long-term financial security of a child with a disability.
Contributions to an RDSP will be eligible for the new Canada Disability Savings Grant.
The government will contribute, in the form of Canada Disability Savings Grants, funds equivalent to 100% to 300% of RDSP contributions, up to a maximum of $3,500. depending on the net income of the beneficiary’s family. The government will also contribute up to $1,000 annually in Canada Disability Savings Bonds depending on the net income of the beneficiary’s family. |
