Donating Retirement Funds
Donating your Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) is a simple, flexible way to give to Bethania Mennonite Memorial Foundation while enjoying tax 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 Bethania Mennonite Memorial Foundation for the full amount being transferred
- Leave a lasting legacy – Your gift will be directed towards Bethania Mennonite Memorial Foundation’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 Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF):
- Simply include Bethania Mennonite Memorial Foundation the beneficiary and then advise the institution holding your retirement account of the change.
- By nominating multiple beneficiaries, you can still ensure loved ones are cared for while providing a donation to Bethania Mennonite Memorial Foundation.
- A tax receipt for the value of the investment gifted will be issued to your estate and applied toward the final income tax return