Sentences with phrase «lump sum withdrawal»

Maximum plans offer you the choice of making lump sum withdrawals whenever throughout the plan that refers to the partial withdrawal.

(c) A combination of the above two is possible, where part lump sum withdrawal and regular withdrawals, is done.

Lump sum withdrawal from annuity or expected legal settlements: You've seen the ads featuring a person saying saying she needs her money now.

For detailed information on how other lump sum benefits are taxed, see the ATO's web pages on lump sum withdrawals and death benefits.

A Retirement Savings Account holder with Voluntary Contributions (VC) may also choose to make lump sum withdrawals at any time.

The Benefit Base is not available as a lump sum withdrawal or payable as a death benefit.

And, if you take smaller withdrawals over time, rather than a lump sum withdrawal, you may be able to reduce the amount you spend on taxes.

It is important to note that you are entitled to a lump sum payment from your Retirement Savings Account (RSA) balance only if the amount left after the lump sum withdrawal will be sufficient to procure a programmed pension payment or annuity.

If you wish to make a lump sum withdrawal that exceeds the minimum amount it will be subject to withholding tax based on the same rates that are applicable to RRSP lump sum withdrawals.

Lump sum withdrawals are usually tax - free if you are over 60.

Lump sum withdrawals are also allowed, generally with a minimum of $ 500 or $ 1,000.

Even if your income is not high enough to trigger OAS clawbacks, it only takes one year where you face a cash crunch and are forced to make a lump sum withdrawal from your RRSP.

You can opt to receive the amount in full, as a yearly payout for the next 5 years after maturity or a combination of lump sum withdrawal and regular payouts.

The table assumes a compound annual return of 8 percent and a lump sum withdrawal.

The table assumes an 8 percent compound annual return and a lump sum withdrawal.