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The federal government announced it would lower the required RRIF withdrawal rate at age 71 to 5.28%, from 7.38%. The rate then increases each year, based on inflation, to a maximum cap of 20% by age 95 — one year longer than what it was before. These rules are in effect for the 2015 taxation year.
View full article on advisor.ca.
Related Topics:Retirement; Government; Personal Tax
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