knowledge topics
Retiring Allowances
KNOWLEDGE EXPECTED OF: Both CFP® Professionals and QAFPTM Professionals
- Define a retiring allowance.1
- Explain the circumstances when a retirement allowance may be received.1
- Identify the parties to whom a retiring allowance may be paid.1
- Identify the parts of a retiring allowance.2
- Explain how the tax impact of receiving a retiring allowance may be reduced.3
- Explain the amount of a retiring allowance that is eligible for a tax-deferred direct transfer to an eligible registered plan.4
- Identify the types of registered plans to which a retiring allowance may be transferred tax-deferred.5
- Explain the methods by which a retiring allowance may be received with no tax implications to the employee.5
Glossary of Verbs (mouse over to see definition)
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Define
To state exactly the meaning of
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Identify
To be aware of / to recognize and correctly name / to locate an appropriate resource
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Explain
To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it
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Compare
To note the similarities and differences between two or more things
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Estimate
To determine an approximate value for
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Calculate
To find the value using mathematics
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Convert
To change from one form or purpose to another
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Evaluate
To reach a conclusion or make a judgement through careful study
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Interpret
To give the meaning of / to construe or understand / to translate orally
Read more about the Taxonomy used in the FP-BoK
REFERENCES
- http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/rtrns/t4/spcl/rtrng-eng.html
- http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/trnsfrrng/rtrng-eng.html
- http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/trnsfrrng/nnlgbl-eng.html
- http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/rtrns/t4/spcl/trnsfr-eng.html
- http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/trnsfrrng/lgbl-eng.html
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