Donating RRSPs & RRIFs

Donating your RRSPs or RRIFs is a simple way of making a meaningful donation while enjoying significant tax benefits.

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The Benefits


  • Flexible and revocable – You have full use of your retirement saving investment while you’re alive plus the gift can be revoked at any time if your financial situation changes.

  • Reduced taxes – Your retirement fund taxes are offset by the tax receipt issued by CFTC for the full amount being transferred.

  • Leave a lasting legacy – Your gift will be directed towards CFTC’s greatest need or you can designate your fund to a particular program or country.

  • Low cost – This is an easy and low cost alternative to leaving a bequest gift in your Will.

How it works

There are several ways to give a gift of life insurance:

  • 1 Simply include Canadian Feed The Children in the beneficiary information of the plan document and then advise the institution holding your retirement account of the change.
  • 2By nominating multiple beneficiaries you can still ensure loved ones are cared for while providing a donation to CFTC.
  • 3A tax receipt for the value of the investment gifted will be issued to your estate and applied toward the final income tax return.
 

Guide to Donating RRSPs & RRIFs

This guide outlines the benefits and steps involved in donating retirement funds.

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Importance of Professional Advice

We strongly recommend you consult your own lawyer or other professional advisor about the applicability to your situation.