Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

My wife does not work outside our home and therefore will not have pension income that normally results from employment income. How can we set up a retirement income plan for her?

employment Home income outside Pension results wife
0
Posted

My wife does not work outside our home and therefore will not have pension income that normally results from employment income. How can we set up a retirement income plan for her?

0 CommentsAdd a Comment

1 Answer

0

Assuming you have sufficient RRSP deduction room, you can contribute to a spousal RRSP. When your wife withdraws from the plan, providing you do not make contributions for a minimum period, the income will be taxable to your wife.

0 CommentsAdd a Comment
What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.