RRSPs and RRIFs

RRSPs and RRIFs as Part of Your Legacy

Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs) are often among the largest assets Canadians hold later in life. How these plans are passed on can make a meaningful difference for your family and the causes you care about.

How They’re Taxed

RRSPs and RRIFs can generally be transferred tax-deferred to a spouse or common-law partner, or to a financially dependent child or grandchild.

When left to other beneficiaries, the full value of the plan is usually included as income in the final estate. This can result in significant taxation, sometimes reducing the value by up to 50%, depending on individual circumstances.

A Thoughtful Option

Some supporters choose to name The Shevchenko Foundation as a beneficiary of their RRSP or RRIF. A charitable gift from a registered plan can help offset taxes owed by the estate while creating a lasting legacy in support of Ukrainian culture, education, and community.

Easy to Arrange

Making a gift through your RRSP or RRIF is simple. Contact your financial institution and complete a beneficiary designation form. You can update this designation at any time.

Learn More

There is no single right way to plan — only what feels right for you and your family. We encourage you to speak with a financial or tax advisor about how charitable giving through an RRSP or RRIF may fit into your estate plan.

If you would like to explore legacy giving options or ask questions in confidence, Janine Kuzma is always happy to connect — with no obligation. Contact: jkuzma@shevchenkofoundation.com