Hard up? Ottawa unlocks RRSPs

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ecom
Member since: Jun 07

Posts: 115
Location:
Post ID: #PID

Posted on: 09-05-08 07:55:54

Dear CDs,

I think it's good to know about this new policy change for RRSP. The federal government says it will allow Canadians who are facing hardships to withdraw up to $22,450 a year from their locked-in Registered Retirement Savings Plans.

http://www.thestar.com/News/Canada/article/423058

Ecom

morning_rain
Member since: Feb 05

Posts: 1920
Location: British Columbia
Post ID: #PID

Posted on: 14-05-08 08:39:36

Is that a good idea in the long run? Will they deplete all their savings year after year and then have nothing to retire on?

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~ Morning rain

Pink Panther
Member since: Feb 06

Posts: 533
Location: Private location
Post ID: #PID

Posted on: 14-05-08 09:45:48

I guess it's a good idea if you're in real dire straits but the temptation is there to just dip into your savings whenever you feel like it. You'd have to be quite
disciplined.

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Bijou Bazaar
http://bijoubazaar22.googlepages.com

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