32 - Wednesday, February 3, 1988 - North Shore News

AGE LIMITS, TAXATION

Getting back RRSP funds important to know

EVERYBODY these days talks about putting money into an
RRSP. But getting back your money is probably even more
important.

CERTIFIED GENERAL ACCOUNTANTS

are pleased to announce
their association in partnership with

LAURIE DYE, CGA.
: Effective pocember 1, 1987 under
name of

KEMP, HARVEY, DYE
CERTIFIED GENERAL ACCOUNTANTS

_ office located at
987-8800

# #39 - 1199 Lynn Valley Road
W North Vancouver, BC. V7J 3H2

“Can I take out the money and
put it into term deposits paying me
a monthly income?” asks reader
Wilma Sjodin.

Elizabeth Kyte also wants to
know what her choices are. ‘‘And
what happens if I die, cither before
or after 1 start taking out my
RRSP moncy?"’

You must de-register your regis-
tered retirement savings plan by
the end of the year in which you
turn 71, But you may take out
your funds at any time before that.

As you get your money back,
you must add it to your income,
subjecting it to your tax rate that
year,

You may take out the cash, but
up to 30 per cent tax will be
withheld. You may transfer the
RRSP money to an annuity or
RRIF (registered retirement in-
come fund). Or you may choose a
mixture of cash, annuities and

Is PLEASED TO ANN OUNCE
_THE OPENING OF

~ Kathy Bruyns, - Bob McFarlane, :
Regional Manager . .

Branch Manager

“ Léona Lalibertd,
Supervisor, Deposit Services

-. Kathy, Bob and Léona would like to take
this opportunity to invite all new and

_ former clients to drop in for refreshments

and pick up a historical print of Vancouver.

ie Confed Trust Company

AMEMBER OF THE CONFEDERATION LIFE GROUP OF COMPANIES

Oakridge Centre—North Tower, Suite 705

650 West 4Ist Avenue, Vancouver V5Z 2M9

Telephone: (604) 266-8865

RRIFs.

An annuity guarantees level, in-

creasing or fluctuating payments
for the rest of your life. After one
spouse dies, the payments may
continue to the other spouse. You
may select minimum payment
periods. -

But in most cases you have no
control over the money in the an-
nuity. And after death (subject to
any minimum payment period), no
money remains.

An RRIF is simply a continua-
tion of your RRSP. However, you
must withdraw an increasing min-
imum amount (but you may take
out more), and have emptied the
RRIF by your or your spouse’s age
0. -

The RRIF can be invested the
same way as your RRSP — in term
deposits, mutual funds and so on.

Like an RRSP, the RRIF can be
left to a spouse or children/
grandchildren (who pays the tax
depends on the chiid’s age and
possible disability). Otherwise,
what's left in the RRIF is added to
your income the year you die — so
plan to die carly that year!

Dear Post Office:

Why did you have to make the ©

new postal rates so complicated?

Worldwide Group Presents =

Suddenly you are charging us
more for some “‘oversize’’ letters
(the standard nine-by-12-inch
envelope now is ‘‘oversize’’). And
that penalty rate includes
envelopes which are under-size,

dollars
and sense

Mike . Grenby

“Special delivery’. costs $1.89
extra if the address has the,same.
. first postal code: letter. as the’ post

See New oe
- Page 33° : wey

po

NL M. Rothschild’.

International Asset Management Limited
(Adviser: to Worldwide} .

GLOBAL .
- STRATEGY |
RRSP FUND -

An investment fund seeking long-term capital growth.
© A flexible investment policy permits holdings in shares,
bonds, cash deposits or gold.

© Experienced professional management:

¢ RRSP & RRIF eligible. - . a Oh
For further information, mail the coupon below or call:

Jeanne Campbeli or Deborah Peachey
at 643-2800 or 643-2773

Levesque, Beaubien Inc.

Suite 700-510 Burrard St.

Vancouver, B.C.
V6C 3A8

Please send me ¢ complimentary information on the Global Strategy

RRSP. Fund.
Name
Address
City

Postal Code

Prov.

Tel.

- Offered by prospectus only -