Retirement Planning

Retirement means different things to different people. For some people, retirement means having the financial flexibility to do as they please without worrying about their finances. For others, it means sitting back and doing all the things that they've always wanted to do
but never had the time to do.

However you envision your retirement, the
best way to ensure that you reach your goals
is to have a retirement plan. The process of retirement planning is relatively straightforward. Ideally, you want to make sure that you have enough income and assets to live the kind of lifestyle that you want.

What makes retirement planning more difficult is determining what that lifestyle will look like and then dealing with the many variables that go into the process and the pace with which they change.

To help you, ScotiaMcLeod offers a Retirement Planning Handbook designed to provide an overview of the retirement planning process and the steps you can take to make sure you have done everything you can to plan for your retirement years. Topics covered include the retirement planning process, retirement income sources, planning strategies, and many other retirement issues.

For more information on ScotiaMcLeod retirement plans or to request our Wealth Planning series of educational handbooks, please contact us . (The information contained on this website is for use by persons resident in Canada only).

Retirement Plans

ScotiaMcLeod offers registered retirement products and personal investment advice to help you secure your financial future and give you peace of mind.

RRSPs
Registered Retirement Savings Plans - an excellent way to save on taxes and save for your retirement.

Retirement Income
Generate retirement income through RRIFs, Annuities and Locked-in Plans.

Group Retirement Plans
Discover what sets ScotiaMcLeod, one of Canada's leading full-service investment dealers, apart from other group retirement plan providers.

RRSP Rules

When you're building your RRSP, it's important to keep abreast of all the rules and strategies that are essential to your success.

Calculating How Much You Can Contribute

Each year, Revenue Canada sends you a notice of assessment, indicating your RRSP contribution limit for the current year. To work out your contribution limit, take the lesser of:

$18,000 or 18% of your prior year's earned income

and subtract any pension adjustment from the previous year if you are a Deferred Profit Sharing Plan or Registered Pension Plan member (and the Past Service Pension Adjustment, if applicable). The remaining figure is the amount you may contribute for the current year.

The maximum contribution for the 2006 tax year is $18,000. Thereafter, it's scheduled to increase to $19,000 for the 2007 tax year.

Foreign Content Rules

Canada makes up just a small percentage of the world's financial markets, so it makes sense to evaluate other investment opportunities around the globe. Research has proven that investments diversified among various countries produce higher, less-volatile returns than those concentrated in just one country. You can hold up to 100% of your RSP holdings in foreign content.

Investments for Your RRSP

A wide variety of investments are eligible for the ScotiaMcLeod Full-Service RRSP. They include:

• Canadian equities
• Foreign equities
• A wide range of RRSP-eligible mutual funds
• Income trust units
• Canada Savings Bonds
• Provincial savings bonds
• Federal, provincial and municipal bonds
• Strip bonds
• Corporate bonds
• Mortgage-backed securities
• GICs
• Treasury bills
• Canadian mortgages on your principal residence
• Index-linked products

Investments that don't qualify include gold and silver bars and other precious metals; personal property such as art, antiques and gems; and commodity futures contracts.

Our Process

At ScotiaMcLeod, the RRSP process begins with an overall review and analysis of your individual financial situation and objectives. A complimentary analysis determines how much money you'll need to live the life you want when you retire, and whether your current RRSP strategy will take you there.

Then we work with you to develop a long-term investment strategy that balances your retirement aspirations with your tolerance for risk. Your plan is grounded in an assessment of your personal needs. Plus, it has the flexibility to respond to changing conditions in the markets and your life.

Customized Investment Choices

After developing a customized retirement plan your Investment Advisor helps you seek out appropriate financial products to implement it. One of the strengths of the ScotiaMcLeod Full-Service RRSP is the variety of investments you can use and the valuable diversification this gives your retirement savings. Working with your Investment Advisor you gain access to an unparalleled range of investment products, from equities and bonds to mutual funds and mortgage-backed securities.

Professional Advice

The most important advantage of the ScotiaMcLeod Full-Service RRSP is your ScotiaMcLeod Investment Advisor. Well educated and thoroughly experienced, your Investment Advisor will help you strategically choose from ScotiaMcLeod's portfolio of financial products to maximize the potential of your RRSP.

Our Investment Advisors draw on the comprehensive information and analysis generated by ScotiaMcLeod's top-ranked research team. We offer objective reviews of mutual funds, plus equities from companies across all industry sectors. ScotiaMcLeod also has special access to research from a major global investment dealer, in order to provide you with information on opportunities south of the border.

For more information, please contact us for access to our insurance professionals, or send us an email.

Plan Features

With the ScotiaMcLeod Full-Service RRSP, you benefit from:

• The experienced, objective expertise of your ScotiaMcLeod Investment Advisor.
• Access to virtually every investment eligible for RRSPs - equities, fixed income. investments, new issues, mutual funds, T-bills, GICs, mortgages and more.
• Consolidation of all your RRSPs into one cost-effective plan.
• Up-to-date information on RRSPs through your ScotiaMcLeod Investment Advisor.
• Objective research and analysis of investment alternatives.
• Simplified record keeping with one comprehensive monthly or quarterly statement.
• The security of ScotiaMcLeod, a division of Scotia Capital Inc., a member of The Scotiabank Group.

For more information, please contact a ScotiaMcLeod Investment Advisor or send us an email. (The information contained on this website is for use by persons)

Retirement Income

Retirement is your time. No more deadlines. No more going to the office. So where do you pick up your paycheck?
At retirement, your RRSP will represent an important source of income. Consider the following options to convert your RRSP into retirement income with the best possible tax implications.

Declaration of Trust Documentation

We encourage you to obtain the updated documentation that applies to your plan.

Retirement Options

You must collapse your RRSP by December 31st of the year in which you reach the age of 69. Now you must decide what to do with it.

RRIFs

A Registered Retirement Income Fund that converts your RRSP into a source of income, paying out the funds until they are depleted.

Annuities

A contract whereby you invest a lump sum of money in return for a regular stream of retirement income.

Locked-In Plans

Transfer all or part of vested pension plan benefits or provincially regulated pension plans into a Locked-in RRSP or Locked-in Retirement Account (LIRA).
For more information, please contact us or send us an email.

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