A GIFT OF AN RRSP OR RRIF

Many Canadians are shocked to learn that the assets held in a Registered Retirement Savings Plan (RRSP) or Registered Retirement Income Fund (RRIF) become fully taxable income to one’s estate in one’s year of death (unless a beneficiary designation allows the plan to be rolled over to a spouse or dependent child).

Avoid taxes by donating an RRSP or RRIF to charity

By making St. Paul’s Hospital Foundation of Vancouver (our legal name) the direct or named beneficiary of your RRSP or RRIF, the donation tax credit will dramatically reduce or eliminate your tax liability.

Where the donor names the foundation as the direct beneficiary of a RRSP or RRIF, the donor’s estate is entitled to a donation receipt for the amount paid out on death. As this asset passes directly to the foundation, probate taxes can be avoided and the risk of creditor claims can be minimized.

All you need to do is visit your financial advisor or financial institution and ask them to change the beneficiary designation to St. Paul’s Hospital Foundation of Vancouver.

Sharing your intention to donate an RRSP or RRIF

If you would like to share with us your intention to make St. Paul’s Hospital Foundation of Vancouver the beneficiary of your RRSP or RRIF, please:

Sharing this information allows us to include you in our Caring for the Future Society, a special group that honours those who have made a future gift to our hospital.

For more information

If you are interested in learning more about the benefits of making a gift of a RRSP or RRIF, please consult your advisor or contact St. Paul’s Hospital Foundation of Vancouver:

Phone: 604-682-8206
Email: sphfoundation@providencehealth.bc.ca