FIP401 - Retirement Planning

Outline information
Schools offering this subject
Last revision date Jun 3, 2019 12:04:06 AM
Last review date Aug 23, 2019 7:48:49 PM

Subject Title
Retirement Planning

Subject Description
This subject is intended for students pursuing a CFP designation.  This subject provides a detailed look at how clients plan for retirement, how they use their financial assets during retirement, and how they make financial decisions related to retirement.  Students will acquire the knowledge to understand the retirement planning process, the various private and government pension arrangement, investment products for retirement and income tax implications, as well as numberous strategies.

Credit Status
One credit.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

Upon successful completion of this subject, the student will be able to:

  1. Describe the impact of demographics on retirement planning.
  2. Describe the various government-sponsored retirement income programs.
  3. Describe the feature of employer-sponsored pension plans.
  4. Discuss the components of Deferred Profit Sharing Plans (DPSP) and Registered Retirement Savings Plans (RRSP).
  5. Discuss the differences between and application of RRIF's, LIF's, LRIF's, annuities, and reverse mortgages.
  6. Describe the education planning process an the various plans available.
  7. Discuss the features of the Income Tax Act that apply to taxation of retirement income.
  8. calculate the impact of income taxes on retirement funds and calculate target retirement incomes.
  9. Prepare retirement income projections for those who have retired.
  10. Discuss the factors to consider when choosing a retirement age.

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