059 | The Future of Old Age Security

On episode 59 of Retirement Unpacked, Gord Manzer and Paul Grenier discuss the future of Old Age Security and if you should start planning for potential changes, how you should build in a potential inheritance into your retirement plan, whether you should withdraw from your RRIF or LIF first, tax planning for large RRIF balances in your 80s, and much more.
Later in the episode, Jon Kutney joins the show to discuss Prescribed Retirement Income Funds (PRIFs), what they are, how they work, and how they fit into your retirement plan.

Chapters

0:00 Intro
0:42 The future of Old Age Security
4:25 Do RRIFs and LIFs have successor holders?
7:50 How should you plan for an inheritance?
12:14 Should I defer my RRSP deduction until retirement?
19:22 Should you withdraw from your RRIF or LIF first?
24:28 Should you level out your average tax rate through retirement?
28:58 Should you defer OAS if you're in clawback territory?
34:08 Tax planning for large RRIF balances in your 80s
38:46 Do we have any women on our team who are CFPs?

40:30 Should I get a plan before changing brokerages?

45:30 What are PRIFs?

52:26 Retirement planning when you're 15+ years away