Quote:
Originally Posted by DoubleF
Did you factor in the pension tax credit and pension splitting of a RRIF (if married and both technically in lower brackets?). If one spouse's pension is substantially higher than the other, doing that aim to bring the balances closer over time is another strategy to consider.
But as always, "it depends".
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Yes. By "RRSP withdrawals" I actually meant "distributions from an RRSP prior to the year he turned 65, and distributions from the RRIF it was converted to at the beginning of the year he turned 65 for the purposes of pension income splitting/tax credits".
I was trying to keep it a bit simple, but as you note it really isn't simple and there are a lot of moving parts. Definitely not a situation where "rules of thumb" are very helpful, you need an individualized plan. Even more so than for the accumulation phase, imo.