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War Veterans Allowance
The War Veterans Allowance is payable to military
veterans or civilians who served in a theatre of war. The
allowance is paid to veterans or their surviving
dependants who are on a restricted income. Age and
residency in Canada are prerequisites for applying for this
Allowance. The rate of Allowance is higher for married
veterans or those with dependent children
For further information about any Veterans
Affairs Canada programs and services, please
contact:
English: 1-866-522-2122 French: 1-866-522-2022
Website: www.vac-acc.gc.ca
Registered Retirement Savings Plan
(RRSP)
Many seniors have paid into an RRSP while working.
You may continue to accumulate your savings in an
RRSP until you are 71 years of age. You have to close
your RRSP by the end of year in which you turn 71. At
which time you have to convert your RRSP to a
Retirement Income Fund (RIF). There are numerous
options when it comes to withdrawing your RRSP. These
options include, Life Annuities, Fixed Term Annuities or
Registered Retirement Income Funds. The institution that
holds your RRSP can provide detailed explanations of
these options.
Private Pensions
Private pensions available from your employer should
have a number of options. They also may have several
conditions placed on the amount and method of payment.
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