Retirement Planning

Course Code

FIN 5003

Academic Year

2016-2017

This course explores the Six Step Financial Planning Process, as established by the Financial Planners Standards Council. It encompasses the elements of goal and objective setting, the implications of different types of retirement savings relative to the tax consequences, and a discussion of different planning strategies. The course also examines employer-sponsored pension plans (registered pension plans - RPPs), Registered Retirement Savings Plans (RRSPs), Locked-in RRSPs and Deferred Profit Sharing Plans (DPSPs). There is a specific focus on the various vehicles that provide retirement income including Registered Retirement Income Funds (RRIFs), Life Income Funds (LIFs), Locked-In Retirement Income Funds (LRIFs), annuities, reverse mortgages and Retirement Compensation Arrangements (RCAs).