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.


Importance of Professional Advice

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