Gifts of Retirement Funds

Many of us can look forward to retirement knowing that funds have been safely tucked away to cover our needs. Unfortunately, our vulnerable neighbours do not have this peace of mind.

You can provide a true gift of comfort by donating the remaining funds in your Registered Retirement Saving Plan (RRSP) or Registered Retirement Income Fund (RRIF) to The Salvation Army. Of course, you’ll want to ensure that your future needs and those of your loved ones are met first.

There are two ways you can make a gift of an RRSP or RRIF:

Name The Governing Council of The Salvation Army in Canada as the designated beneficiary. You do so by registering this change with the trustee of your plan.

Leave the proceeds of your RRSP or RRIF to The Governing Council of The Salvation Army in Canada in your will.

In both cases, The Salvation Army will issue a charitable receipt to your estate. By naming the Army as a beneficiary, you’ll also avoid probate tax and ensure funds go to much-needed services as quickly as possible.

If you choose to withdraw money from your retirement fund during your lifetime to make a donation to The Salvation Army, we recommend that you carefully review the tax implications with your financial advisor.

Get In Touch

If you’d like to learn more, please email us at legacy@salvationarmy.ca Or, call us at 1-855-546-5556. A Salvation Army Gift Planner will be in touch soon to answer all of your questions.

We strongly encourage you to seek independent advice when executing gifts of securities, property, life insurance, charitable gift annuities, wills, trusts, contracts and other legal agreements.