Improvements to Life Income Funds Give Canadians More Financial Flexibility
The following News Release or Speech has just been posted on the Finance Canada Site.
Ottawa, May 8, 2008
2008-037The Honourable Jim Flaherty, Minister of Finance, today announced regulatory changes are now in effect allowing Canadians to take advantage of Budget 2008 improvements to the administration of Life Income Funds (LIFs).
“Many people, such as seniors, pensioners and individuals facing financial hardship, will now have greater freedom to move their investments and use the money when they want, for what they want,” said Minister Flaherty. “These changes simply reflect the greater range of employment and lifestyle choices available in our fast-paced global economy.”
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