20 - Sunday, November 9, 1986 - North Shore News Business —___ t of THAT RETIREMENT nest-cgg of yours, your Registered Retirement Savings Plan automatically matures by the end of the year in which you turn 71. What happens then? Under cur- rent legislation you have four op- tions. You may take your RRSP funds as a lump sum in cash and pay tax on the full amount which is treated as taxable income in your hands. Or you may place your RRSP funds in an annuity — either a life By ROD CLARK Contributing Writer or term certain annuity. Annuities pay out fixed amounts of income (to you or your spouse) for the rest of your life or to age 90 — whichever you choose. You may roll your RRSP over into a Registered Retirement In- come Fund (RRIF) and remain an active investor. Your RRIF can be managed for you through fife in- surance, a mutual fund, banks and trust companies, or you can self- administer your RRIF giving you the freedom to invest as you sce fit. Along with this freedom comes an enhanced potential for earnings — the RRIF’s wide investment choices can let you stay ahead of inflation and even continue the improve managing skills growth of your assets, Payments rise from flower amounts in the earlier years to larger amounts in the later years when you may need more income. Income starts the year after you roll your RRSP over to the RRIF (to you or your spouse) and con- tinues to age 90. Or you may combine any of the three options above — part RRIF, Part annuity and part cash, Proposed changes by the federal government include for the RRIF no maximum limit on the amount you withdraw every year and in- come starting the month after you establish your RRIF. With annuities, a cash out be- fore maturity feature is proposed either in part or in full. .S.P, DO YOU KNOW HOW TO GET OUT OF YOUR RRSP? with FBDB workshops LARGE-SCALE participation at modest cost charac- terizes Federa! Business Develpment Bank manage- ment training programs for smal! business operators and managers. In fiscal year 1986, some 36,000 people attended: full and half-day seminars organized by FBDB an more than 20-topics in the general management, fi- nancial and personnel fields. New subjects recently added are Productivity — Analyzing the Strengths and Weaknesses of your Business, Planning Your Work, Women in Manage- ment and a new marketing seminar for retailers and the food service industry. About two-thirds were in communities of less than 100,000, a clear indication of the value of the service, especially outside metropolitan centres. Beyond general subject seminars, FBDB people also collaborate closely with professional groups and associations, such as the Canadian Manufacturers’ SuperValu: Association and the Canadian Export Association, to develop joint seminars with specific orientations. Last year, close to 40,000 owners and managers at- tended 30-hour evening courses on a broad range of topics including computers, advertising, book keep- ing, personnel administration, financial management, marketing, manufacturing and retailing. These business management courses are made available by FBDB to provincial and territorial educa- tion authorities and are conducted primarily at com- munity colleges. Thirteen thousand others took part in FBDB’s pro- gram of management clinics in fiscal year 1986, often in conjunction with other training. These clinics cover basic small business topics through self-teaching methods with 12 to 20-minute video cassettes provided at every FBDB location. Costs are low and take-home study books are includ- ed. ILL BE CLOSED EXCE} FREE SEMINAR WEST VANCOUVER LIBRARY, THURS., NOV. 13 7 P.M. FOR FURTHER INFORMATION & CONFIRMATION OF ATTENDANCE 669-6262 ROD CLARK OR JOHN DINGMAN pen 10 to 5 p.m. Woodward’s & Woodward’s Food Floor: ‘pen 11 to 5 pm. The Bay, Eaton’s: Open 12 to 5 p.m.