This program explains the history and basic purpose of RRSPs, who can have an RRSP, and how RRSPs affect personal income taxes.
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This program discusses specific RRSP regulations including contribution deadlines and limits, withdrawing funds from RRSPs, and how mature RRSPs are handled.
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This program reviews the types of investments that are eligible for inclusion in RRSPs along with the three major categories of RRSPs: self-directed plans, spousal plans, and group plans. It also discusses how RRSPs can be used to purchase a home and how to use the Life Long Learning Plan to invest in education.
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RSP04: RRSP INVESTMENT OPTIONS
This program covers the common RRSP investment options: savings accounts, term deposits, bonds and mutual funds. Self-Directed RRSP options and Locked-In Retirement Accounts are also discussed.
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This program gives the employee the knowledge required to feel comfortable discussing numerous RRSP investment products, including savings accounts, fixed rate deposits and mutual funds.
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Many people will not make an RRSP investment without prompting. This program presents some very typical comments and queries from someone who is new to selling financial products, and is intended to help an employee feel comfortable suggesting RRSP purchases to members.
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RSP07: REGISTERED EDUCATION SAVINGS PLANS
This program explores RESPs in detail, including information on Canadian 'Education Savings Grant’ that matches a portion of all funds, deposited to RESPs.
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RSP08: RETIREMENT INCOME OPTIONS
This program focuses on Retirement Income Options that can help taxpayers maximize their retirement income while saving on personal income tax. By completing this program, an employee will be able to explain what an RIO is, who can have an RIO, and the different types of retirement income options that are available.
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RSP09: REGISTERED RETIREMENT INCOME FUNDS
Registered Retirement Income Funds are an important product for credit union members and this program them in some detail. The employee will learn about the basics of RRIFs, LIFs and LRIFs.
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This program explores some of the fundamental choices people must make - consciously or unconsciously - on their financial journey toward retirement. It will help the employee discuss these choices comfortably with members.
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RSP11: BENEFICIARY DESIGNATIONS
This program explains the implications of various beneficiary designations on registered products and includes discussions on how the funds are disbursed after death, whether tax is payable immediately or deferred, and whether the surviving spouse can have access to the funds immediately, or only after the will is probated.
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As financial professionals, employees can be instrumental in educating members in the fundamentals of asset selection within their growing portfolio. This program is designed to be a first step in that direction.
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RSP13: TAX FREE SAVINGS ACCOUNTS
This program introduces you to TFSAs: who is eligible; how much may be contributed; what investments qualify; what the tax implications are (including the impact of withdrawals and over-contributions); and what rules apply to successor holders/beneficiaries upon death of the account holder, transfers due to marriage/relationship breakdown, and non-residency.
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RSP14: REGISTERED DISABILITY SAVINGS PLANS
This program introduces you to RDSPs including eligible beneficiaries and holders, contribution limits, tax implications, government support, payments from the RDSP, and the impact on eligibility for other benefits.
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