Retirement savings (RRSPs and RRIFs) and pension funds

You can donate retirement savings (Registered Retirement Savings Plans and Registered Retirement Income Funds) and pension funds to Catholic Missions In Canada when you retire.

While contributions to these funds are free from taxation at the time you make the contributions, at death the total value of the funds must be reported as income and are fully taxable to your estate, causing significant tax payable.

Once your needs and those of your loved ones have been met, you can choose to make a difference and leave a legacy that benefits our missions by giving the proceeds from these savings to a charity such as Catholic Missions In Canada.

Proceeds of RRSPs and RRIFs paid directly to a charity upon death are eligible for a charitable tax receipt to offset taxes owed on final tax return.

No matter your circumstances--whether you are enrolled in an RRSP or have already converted your RRSP to an RRIF--you can name Catholic Missions In Canada a beneficiary of all or a portion of any retirement funds remaining at your death. A tax receipt for the value of the investment gifted will be issued to your estate and applied towards your final income tax return.

You may endow gifts of this type while you are still living. By donating a portion or all of these funds, or funds received from Canada Pension Plan, your tax bill can be greatly decreased.

Moreover, you have use of the retirement saving investment while you are alive. RRSPs/RRIFs gifts are revocable and can be changed if your financial circumstances change.

In addition, you will receive a tax receipt for the full value of your gift.

Remember: Your pension gift can be put to use immediately, thus giving you the benefit of seeing how your generosity makes a difference to our poor missions. 

For more information, fill out a Request Information Form or

please contact  Winnie Quinn, our Charitable Gift Planning Manager at

Tel: 416-934-3424
Toll-free: 1-866-YES-CMIC (937-2642)
Fax: 416-934-3425

or via e-mail at giftplan@cmic.info

No! Canada Revenue Agency does not allow the roll-over of "registered" funds into gift annuities.


  • Flexibility: Like your RRSPs, you continue to choose how your funds are invested

  • Funds remain tax-sheltered

  • You can withdraw more than the minimum amount if you need

For donors who wish to make a gift of their RRSP/RRIFs to Catholic Missions In Canada, Canada Revenue Agency legislation allows the designation of a charity as the beneficiary of your RRIF directly on the plan documents.

Think about it: If you invest $10,000 of your RRIF withdrawal into a charitable gift annuity, you will receive:

© 2011 Catholic Missions In Canada Charitable BN # 119220531 RR0001