A new continuing education (CE) course provides valuable information to help you discuss retirement planning and the impact taxes will have on a client’s retirement income.

Canadians are living longer. This is good news, but it also means that their retirement could span more than 30 years. It’s important that Canadians plan for a long retirement.

The most recent Sun Life Canadian Unretirement Index shows that almost 8 out of 10 Canadians don’t have a written financial plan and only 33% of Canadians work with a financial advisor.1

Everyone’s retirement will look different, but working with a trusted financial advisor to build a plan will help clients retire with confidence.

What does retirement look like for your clients? What lifestyle do they expect to have in retirement? Do they want to downsize their home, travel or work part time? How much retirement income will they need? These are all important considerations when building a retirement plan. But in addition, an important aspect of retirement planning involves decisions around:

  • Ensuring retirement income is withdrawn in a sustainable way while meeting lifestyle needs.
  • Using registered versus non-registered assets in a tax-efficient way.
  • Withdrawing money effectively to minimize taxable income and maximize Old Age Security (avoiding clawback).

As your clients’ trusted advisor, you can help them navigate these decisions so they can retire their way.

According to the Sun Life Canadian Unretirement Index, Canadians feel they lack sufficient knowledge about how much retirement income they need (41%), about how taxes affect retirement savings/income (37%) and about how government programs such as Canada Pension Plan/Quebec Pension Plan and Old Age Security work (28%).2

New CE course is here to help

To help prepare for these important planning discussions, the new Retirement and post-retirement planning course focuses on:

  • decisions that need to be made during retirement such as how and when to withdraw retirement funds.
  • tax implications on post-retirement income.

This course is the second in our Money for Life retirement planning education series, a 3-course continuing education (CE) series launched last year in partnership with the Canadian Institute of Financial Planners (CIFP) to help boost your retirement planning know-how. This series offers detailed insight on:

  • the realities and issues facing today’s retirees and those nearing retirement,
  • how to help them better prepare for (and enjoy) this multi-faceted life stage, and
  • how planning-focused — versus product-focused — conversations lead to long-term relationships, multiple product sales and client referrals.

CE credits and RRC/CFP designations

The courses are very robust in content and qualify for approximately 5 to 8 CE credits each. The 3 Money for Life courses will also qualify as 6 of the 17 units required to complete the Registered Retirement Consultant course from CIFP. These courses can be the first step on the path to becoming a Registered Retirement Consultant.

When you successfully complete all 3 courses, the CE credits attained can be applied toward your Registered Retirement Consultant (RRC) designation and/or Certified Financial Planner (CFP) designations CE requirements.

Help your clients retire with confidence

Retirement and post-retirement planning takes a close look at retirement planning and the importance of considering tax implications when working with clients on their plans. Use it along with the first course in the series, Introduction to retirement planning and the accumulation phase, to learn, develop and help more clients retire with confidence.

Access the Money for Life education series through CIFP, or learn more about these and other Money for Life CE accredited courses by visiting Earn CE credits with Money for Life.

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1 2015 Sun Life Canadian Unretirement Index.

2 Ibid.