CIBC Retirement Calculator – CIBC Retirement Savings Plan
Here is the information mentioned about CIBC Retirement Calculator and CIBC Retirement Savings Plan that is provided by the CIBC. www.investorsedge.cibc.com is the official website of CIBC. It provides the specific Retirement investment services, advices and Retirement Calculator for those who want to plan for retirement. CIBC offers the range of retirement account services to save fund for secure and comfortable future when you leave work. The details of CIBC Retirement Savings Plan and CIBC Retirement Calculator are given below.
CIBC, generally it is known as a Canadian Imperial Bank of Commerce, one of the most Canada’s employed banks and fifth largest by deposits for the more than eleven million clients and more than 40,000 employees worldwide. CIBC was formed in 1867 and is headquartered at Commerce Court in Toronto, Ontario. CIBC has two business lines, CIBC Retail Markets and CIBC Wholesale Banking, which provides the financial and banking services.
CIBC Retirement Savings Plan:
It is expected that every person spends one-third of life in retirement. So it is important to take financial steps very careful and build your retirement life comfortable and happy. CIBC is a financial and investment service provider that offers you the range of Retirement Savings Plan to help you to achieve your retirement life needs.
Retirement planning: RRSPs:
RRSP (Registered Retirement Savings Plan) “All-in-One Fund Solution” is provided by the CIBC. RRSP includes GICs, stocks, bonds, savings accounts, and mutual funds to meet your retirement needs and goals.
Retirement income: RRIFs and LIFs:
CIBC offers a large variety of investment products and services to provide you with income to meet your changing retirement needs. You can convert your RRSP or Locked-In RRSP/ Locked-in Retirement Account (LIRA) to a Registered Retirement Income Fund (RRIF) or Life Income Fund (LIF). By this combination, you can benefit from continuing tax delay on the growth of your RRSP assets.
CIBC Retirement Calculator:
Do you want to decide how much you need to your retirement? Now you can do all this in simple and easy way by using CIBC Retirement and RRIF Calculators. Here are the types below.
Retirement and RRIF Calculators
- Retirement Calculator
- RRSP Accumulator
- RRIF Projection
- LIF/LRIF Projection
1. Retirement Calculator
The Retirement Calculator requires some details such as the number of years until retirement, and the number of years the income and the number of supposition such as return, inflation and average tax rates.
2. RRSP Accumulator
The RRSP Accumulator Calculator can help you to decide the growth of your registered savings as well as estimate an annual before-tax income in retirement. It is an effective way to save for retirement. RRSP Accumulator will help you to accumulate a substantial pool of registered retirement assets and will shelter your investment returns from tax.
3. RRIF Projection
RRIF (Registered Retirement Savings Plan) Projection Calculator will help you to decide your RRIF minimum withdrawals or how long you’re RRIF may last if you withdraw a desired amount. You can make different RRIF projection set-up by changing some of the timing of withdrawals or basing the minimum withdrawals on the age of a younger partner.
4. LIF/LRIF Projection
With Life Income Fund (LIF), you can transfer your any remaining funds to a life annuity at age 80. With Locked-In Retirement Income Fund (LRIF), you will never have to transfer the funds to annuity, there are differences between LIF and LRIF. LIF/LRIF is a registered vehicle similar to a RRIF in that it allows you to maintain investment control.
You will be more informed by using the Retirement Planning example that given in figures and explanation.