Sentences with phrase «making lump sum withdrawals»

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

Most unit linked plans offer you the option of making lump sum withdrawals anytime during the «In force» and «Paid Up» status of the policy subject to the conditions explained in the policy document.

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

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.

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.

As the parent of the child you are allowed to make a lump sum withdrawal from the policy that is still in term to pay for any medical expense.

Not exact matches

The Guaranteed Transfer Withdrawal Rate is applied to all investment option transfers from the Non-Personal Income Benefit Investment Options to the Personal Income Benefit variable investment options, contributions made in a lump sum (including amounts attributable to contract exchanges and direct transfers from other funding vehicles under the Plan) and rollovers.

It does make sense to try to get people to spread their withdrawals out earlier, rather than having the estate end with a large lump - sum tax, though the argument can be made that the current minimums are too high.

You may even lose your job at some point; experience a disability; retire early, transfer a commuted value lump - sum payment from your pension into a locked - in RRSP; or decide to defer your pension start date at retirement — all things that could create a year or number of years where your income is significantly lower and strategic RRSP withdrawals could be made at a lower tax rate than today.

This example assumes one lump sum being deposited at account opening on 1 January, and then a withdrawal of # 10 made every month for the next 4 months.

If you take a lump sum, you can roll it over into an IRA and make withdrawals as needed.

An annuity is just one of the available TSP withdrawal elections — payments also may be made as lump sums or in monthly amounts or the types may be combined.

Plus, three key regulatory changes have made these loans safer than ever by eliminating lump - sum withdrawals, covering non-borrowing spouses and requiring a financial assessment that ensures the borrower has enough money to pay taxes and insurance.

Lump sum partial withdrawals can be made from your funds after 5 complete policy years, provided the Life Assured is at least 18 years of age.

The beneficiaries can make withdrawals of the entire death benefit in a lump sum or simply use it to purchase annuity.