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busness-,ews WJUBY FMEEPIRSS WEDNESDAY, APRIL 29, 19 PAGE 15 RR RSPsý essenti.al for retirement, What would you *do if your sala7 feU to about $14,000? Tîswbat you may face in retirýement.if you rely only on Canada Pension Plan and Old Age'Secuityr. Without a good pension plan frein work, it wiil be essentiel to have income from a Registered Retirement Savinigs Plan and other investinents. What 35 an RS To help people save for retirement, -Ottawa created RSP in such a way that none of the' money is taxed until withdrawal. That means you get two big breaks. First, your contribution is tax-deductible. Second, RRSP, earnings compound tex-free year after year. This meens fer more growth fevtjour RW investinents' rang km ermdepoits that pay guaranteed mnterest to mnvestment fumds whooe values The Tourist - Association of Durham PRepon's annuel srn workshop wll be held on T1hurs- day, May 7 at Kedron Deils Golf Course in Oshawa. TWO professionals from the touism industry wýil offer i- sight on 'suoceeein in the nine- ties.' Dan Statham of Pickering, a. former broadeaster who is a con- sultant on customer service excellence and Bob Cassels p ast director ot marketing for à AMA Inn, will be guest speakers. Stathani will discuss 'Custo- mer Service Par Excellence!' and Cassels will discusa 'Successful Promotion of your Business on a Shoestring Budget/Tour Packag- ¶'he wormhop is from, 9 a.m. to noon. For m ore information ceIl Jen- nifer Pettit- by -Friday, May 1 et 668-8000. Handrail Company FR OM PAGE 13 that is of mutue benefit to ail." 1>He bas been irnpressed by Canadiens asbusiness people. "They are discoveng how fr-ee trade bas opened the border to the vest U.S. market and how easy expansion by Canadien frms to thie U.S. now cen be.", The Qued City Development Group exists specificaily to welcome Canadien branch plants and umooth the way for Canadian business initiative to profit in this rich new U.S. market. Business Atter Hours The Whitby Chamber of Com- merce will hold 'Business After Hours' on Wednesday, May 27., Offered as an opportunity to network with other Chember membearsa lnd hegeerk ubic rise and fall. Can i lhave more than ooÂe RRMI Yes, but make sure you cen keep track, and understend that having multiple plans does not increase you annuel contribution limit. .«Consider a 'spousel contri- 'bution' if your mate will bave less retirement income then you. This lets you put ail or -part of your RRSP money into a plan for bim or her.' You get the upfront -tex deduction but your spouse will be taxed 'on .withdrawels -in' retirement. Splitting income like thet cenyield big tax savings.. Generaily, -if a spousal contri- bution is withdrawni before three yeers, yeu - net your spmuse -- get taxed. Exceptions include marital breakdown or rollover to an ennuity 'or -Registered Retirement Income Fund. How MMcouc.1 putin? .,-With annuel'contributions and tex-free compoundin, the eerlier you start an RRSP, t he tter off 1you'lbe in retirement.. By your late 30s, try te meke maximum yearly contributions. Where cn I buy BBSP? RRSPs are offered by life insurence ct*npanies% trust companies, banks, credit'.unions and verious investment firme. Are RRSft Pretected frm creditors? PMIP% purchetéàl from life insurance companies feUl under special creditor-prooflng provi- sions mn provincial legisiation. RRSPÈ frefin Qýther financial institutions do net. In certain cases, life insurance RRSP creditor-proofing may not be ironclad, but it is stili barder for creditors te seize the money then with other RRSPs. How longcon an.RRSP rua? By the end of the year in wbich you turn 71 you must cash in your plan -- and pay tex -- or convert it te a Registered Rletirment, Income Fund or ennuity. RRIP and ennuity mnoney is taxed only as it is peid eut. An RRIP cen run until ege 90. If you die before then, money left goes te your beneficiary or estate. A life annuity pays monthly income for as long as you, live. Tecbnice]ly, there is ne capital for your heirs but most people buy up te 15 yeer of guaranteed payments. If you die during that peried, the remeining gueranteed peYments go te you beneflciary or estate. Unlk an RRIP te e ge 90,1 ennuity payMents cannot run eut eerly. The issuer cennot run out early. The issuer is able te fully guranite the mncme streain bauepayments are either fixed as a set level or indexed at four per cent. Thae - Lue Underwýri-ters -Association of Canada prouies a program of training and education leading te the award of the tit les Chartered Lifé Underwriter ' (CLU) ,and Chartered Fînancia Consultant (CH..C.).If you have questio'ns about RRSPs or would like more infrmtinconïtact' the Life Und1aenrwtrssocý8iation of Canadaý. 41 Leamill Me, Don Mils, Ont.: M3B 2T3, or your kloa fe underwriters assiation (Mark Cri ban at, 686-3472).' 1VEXT 'BUSESS" EDJION:M. 'RRIFa:- a retirement income option.' * D..S.is on theý more We are pleased to anlnounce thiat as of May'i st, 1992 D.I.S. nsurance -Brokers ]Limited will have -a new home. From left to right: iiard Hall, Lynn Robb, Janioe Cain, Kerry Halliwell and Kris Barber. Seated in front: Peter Dilello. DIlS. Insurance is a multi-line broker, representing man* fine insurance companies, and cani provide local residents with ail their insurance needs. The staff at ID. .S. take pride in designing personal, insurance programs for eachclient. Clients appreciate knowing they are being Iooked after by an insurance professional who can provide coverage forait their insurance requirements, such as protection for their auto, home or business, as welI as provide expert advice in the areas of life insurance, income replacement and retirement planning. DIlS. offers top-notch service and prompt> personal attention, not only when clients purchase insurance, but eveiy time their services are required. Whether it's help with a claim, billing problems, additional policies, or simfply answers to questions regarding insurance, the staff at-D.l.S. arethere to'serve you. Everyone at D.l.S. believes that they must 'earn' their clients' business everyday, and are committed toprovide that little bit of extra service with that special personal touch to ensure that each client is satisfied. DIlS. Insurance Brokers will be conveniently located in Whitby at 701 Rossland Rd. E'. Unit 14. Local residents are asked to calI 666-2090;,to'discùss any insurance matter or to arrange for an appointment. 701. ROSSLAND ,RD. E.' UNIT #141 WHI TBY , ONTARIO Li N 8Y9 666- 2090 666-8691 F _oro nto I 6 fA'à' * k_ 4 t. Telecato'r Durhaîn, 153 Brock St. N. Unit 2, Whitby 430-PAGE *430-7243, Debble Sabourin \ ý UlfD oorl Pgr *"WE HAVE AN IMPORTANT MESSAGE FOR YOU!11 *Wide area couerage *f24 hour answering servieà *Choose from tone, numeric, voice or alphanumeric - rent or purchase. *Rent from a local company for same day delivery or repair D.lT INSURANCE BROK S Te- 1- K.MMmb-».,- CALL 436-0878 ;v;;" ýo -- 7-77-77-77,27 _;77T77