We all know that regular contributions to a registered retirement plan can offer tax savings now and a source of income for the future. But did you know that RRSPs and RRIFs can also provide an excellent way to further your charitable interests?
Naming a charity as the beneficiary of your registered retirement savings plan or retirement income fund is easy to do and can be highly beneficial. Simply contact the financial institution managing your retirement plan and sign a declaration (known as a “beneficiary form”) naming Amnesty International Canadian Section (English Speaking) as the beneficiary of the plan.
You can choose to name Amnesty International as the primary beneficiary, or as a secondary beneficiary in the event that your spouse or other primary recipient should pass on before you. It is not necessary to amend your will in order to take advantage of this option, and designating a charitable beneficiary does not affect your own use of the retirement funds in any way.
Any funds remaining in the account upon your demise will go directly to supporting the cause you believe in, and your estate will receive a charitable donation tax receipt for the full amount of the gift.
We urge you to visit your financial advisor to determine how a gift of RRSPS/RRIFs to Amnesty International can best fit into your long-term financial plans.
Heather Warren, our Gift Planner, would be happy to send you information on making a gift of RRSPs/RRIFs to Amnesty International. Please contact her to request this free material.
Thank you for caring.
- Margaret and Brian John
If you require any assistance in making a planned gift to Amnesty International or would like to request additional information, please contact our gift planning associate.