Submission to the federal department of finance on qualified investments

The 2024 federal budget invited comments on how the qualified investment rules in the Income Tax Act can be modernized to improve the coherence of the registered plans regime [ i.e., Registered Retirement Savings Plans, Registered Retirement Income Funds, Tax-Free Savings Accounts (TFSAs), etc.]. CLHIA's response is supportive of modernizing the rules and improving the product options for Canadians saving for retirement and those in retirement.

The CLHIA recommended that:

• In terms of improving Canadian-based investments, the government use its fiscal policy tools to promote an appealing policy and economic environment for such investments to compete and thrive in a competitive global marketplace.
• The government work with the industry to maintain the existing framework for immediate and deferred annuities as a qualified investment to ensure retirees continue to have secure options and expand the regime to allow Canadians to acquire and hold payout annuities in their TFSAs for a secure retirement.
  Qualified Investments submission.pdf