Qualified beneficiary and designated benefit

A qualified beneficiary is the annuitant's spouse or common-law partner or the annuitant's financially dependent child or grandchild. Generally, a designated benefit is some or all of an amount paid out of a RRIF to a qualified beneficiary as a consequence of the annuitant's death. A designated benefit includes an amount paid as a RRIF benefit, but it does not include a tax-paid amount. A designated benefit is similar to a refund of premiums paid from an unmatured RRSP.

For more information, see Tax-paid amount and after-tax amount from a RRIF.

Date modified:

2016-10-24