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  2. Registered retirement income fund - Wikipedia

    en.wikipedia.org/wiki/Registered_Retirement...

    Before the end of the year in which an individual turns 71, it is mandatory to either withdraw all funds from a RRSP plan or convert the RRSP to a RRIF or life annuity. If funds are simply withdrawn from a RRSP, the entire amount is fully taxable as ordinary income; one defers this taxation by transferring investments in a RRSP into a RRIF.

  3. Registered retirement savings plan - Wikipedia

    en.wikipedia.org/wiki/Registered_retirement...

    Before the end of the year the account holder turns 71, the RRSP must either be cashed out or transferred to a Registered Retirement Income Fund (RRIF) or an annuity. [17] Until 2007, account holders were required to make this decision at age 69 rather than 71.

  4. Locked-in retirement account - Wikipedia

    en.wikipedia.org/wiki/Locked-In_Retirement_Account

    The distinction between a LIRA / LRSP and a registered retirement savings plan (RRSP) is that, where RRSPs can be cashed in at any time, a LIRA / LRSP cannot. Instead, the investment held in the LIRA / LRSP is "locked-in" and cannot be removed until either retirement or a specified age outlined in the applicable pension legislation (though certain exceptions exist).

  5. Is It Worth It to Convert $850k to a Roth IRA at Age 65 to ...

    www.aol.com/im-65-850-000-ira-113000461.html

    Now consider doing a gradual conversion with the goal of emptying the IRA by age 73. Assuming you earn 7% a year and convert $132,000 each year, in eight years your IRA will be almost empty.

  6. Roth IRAs: What they are, how they work and how to open one - AOL

    www.aol.com/finance/what-is-a-roth-ira-123943445...

    A conversion is when you convert any amount from a pre-tax IRA into a Roth IRA,” explains Gilbert. “The only caveat is that in the year of the conversion you must pay the tax on the converted ...

  7. Taxation in Canada - Wikipedia

    en.wikipedia.org/wiki/Taxation_in_Canada

    Capital gains earned on income in a Registered Retirement Savings Plan are not taxed at the time the gain is realized (i.e. when the holder sells a stock that has appreciated inside of their RRSP) but they are taxed when the funds are withdrawn from the registered plan (usually after being converted to a Registered Income Fund at the age of 71 ...

  8. Individual retirement account - Wikipedia

    en.wikipedia.org/wiki/Individual_retirement_account

    Average and median balances increased with age, reaching a maximum in the 65–69 age group, before leveling off for 70 and over. Rollovers overwhelm contributions – the overwhelming majority of IRA contributions, in dollar terms, were from rollovers, rather than new contributions – over 10 times as much is added to IRAs from rollovers than ...

  9. Mandatory retirement - Wikipedia

    en.wikipedia.org/wiki/Mandatory_retirement

    Pilots: the mandatory retirement age of airline pilots is 65. The Fair Treatment for Experienced Pilots Act (Public Law 110-135) went into effect on 13 December 2007, raising the age to 65 from the previous 60. [27] Air traffic controllers: Mandatory retirement age of 56, with exceptions up to age 61.