Source: CIFP Retirement Institue

The Canadian Institute of Financial Planning (CIFP) Retirement Institute is the advancement of the retirement planning profession through the development of the body of knowledge in retirement planning. This is accomplished by providing educational programs that support the Registered Retirement Consultant® (“RRC®”)/Conseiller en Retraite® and Conseillère en Retraite® (“CR®”), certification marks and designations, subsequent continuing education courses and administering a Code of Conduct and Practice Standards.

In keeping with all professional designations, the Registered Retirement Consultant /Conseiller en Retraite and Conseillère en Retraite credential demands the highest standards of its holders.

To remain in good standing, an RRC/CR holder must earn a minimum of 10 (ten) qualified continuing education credits each year based on activities approved by the CIFP Retirement Institute.

Commencement of CE Requirements

CE requirements commence the calendar year following the year in which you obtain RRC/CR certification. A minimum of 10 qualified CE credits must be accumulated by December 31st of each calendar year.

For example, if you obtain your RRC/CR designation at any point this calendar year, you will not have any CE requirements for the balance of this year. However, by December 31st of next year, you will be required to complete a minimum of 10 approved continuing education credits to maintain your RRC/CR certification.

Eligible Continuing Education Activities

An eligible continuing education activity is one that furthers the development, professional skills and technical knowledge of the Registered Retirement Consultant/Conseiller en Retraite and Conseillère en Retraite.

The following courses are available as part of the ILScorp LIFE/A&S Subscription or the ILScorp FPSC Subscription and are eligible continuing education credits for the RRC/CR Designation:

1. Life Agent Development Course Retirement Planning = 3 CE
The information in this course is aimed to educate agents on retirement planning strategies.
In this course, we will look at sources of retirement income, types of funds and contracts and retirement planning processes under the following headings:
Sources of Retirement Income
Public Sector Plans: Canada Pension Plan and Old Age Security
Corporate Sponsored Plans
Registered Retirement Savings Plans
Personal Assets.
The Retirement Planning Process
Retirement Planning Checklists

2. Retirement, CPP/QPP and the Old Age Security = 2 CE
This course discusses the following:
Schedule of Contributions
How the Retirement Pension Is Calculated
Spouses Sharing CPP/QPP Retirement Pensions
Spouses Sharing Pensionable Earnings
The CPP/QPP Disability Pension
Pensions for Surviving Spouses
The Old Age Security Program (OAS)

3. Investment Management and Your Client – Part 1 = 2 CE
Introduce and explain the 3 types of investment instruments and their respective variations.
Explain the major types of investment-product opportunities, and to show the differences between investment saving and wealth accumulation as they relate to wealth accumulation.
Explain and illustrate the “Rule of 72”, as it relates to wealth accumulation.

4. Investment Management and Your Client – Part 2 = 2 CE
Explain, illustrate, and demonstrate the structure, form, and operations of the stock market, as it relates to financial & retirement planning and investing.
Demonstrate the differences between the major types of equity stocks.
To explain, illustrate, and demonstrate the 3 types of investment income received from investing in the stock market (interest, dividends, capital gains).
Allow the participants/clients to determine by completing a questionnaire, where they fit in on the ‘risk’ level (low, medium, high), and how the respective risk level affects their earning investment opportunities.
Explain, illustrate and demonstrate the concept of mutual funds as an investment devices
To understand the structure, form, and workings of mutual funds, and especially how they differ from segregated funds sold by insurance companies
To explain and demonstrate the various types of mutual fund administration fees (e.g. open-end funds, closed-end funds, and Management Fees {MER}), in order for the participants/clients to prudently select mutual fund companies that offer the lowest administrative costs
Explain inflation and demonstrate how it can affect investment
Describe the investment risk that changing interest rates can create.
To demonstrate the importance of diversifying investments

5. Rules for Converting a RRSP – Maturity Options – Part 1 = 2 CE
The choices persons have in what they do with their RRSPs, once they reach age 71
The important considerations those over age 71 must make in order to continue their retirement’s wealth accumulation
The tax implications involved regarding the maturity options that RRSPs holders choose
The advantages of ‘income-splitting’, concerning RRSP spouses
The differences between Term-Certain annuities and Life annuities and the advantages and disadvantages of both.
The important factors that affect which annuity may be beneficial for each individual.
The ideal time for an individual to purchase an annuity.
The implications involved regarding who benefits from remaining payments if the annuity holder dies.
FPSC Accreditaion Type: Financial Planning 2

6. Beyond RRSP’s – Maturity Options – Part 2 = 3CE
The advantages of purchasing an RRIF over other investment options
The different types of RRIFs that can be purchased and the advantages and disadvantages of each option.
How to plan which type of RRIF best suits your individual needs
The tax implications involved in withdrawing money from an RRIF.
The preferred maturity option that best suits an individual person’s financial criteria.
Foreign content rules and the advantages of investing in foreign content in regards to maturity options.
The tax implications involved regarding RRIFs.
The advantages of RRIFs over annuities.

7. Group RPPs and Disability Income Insurance = 3 CE
The Weekly Income Benefit
Long-Term Disability {LTD} Insurance
The Accidental Death and Dismemberment Benefit (AD & D)
Extended Health Care Benefits
Also, Contributions to Group Plans and the Registered Pension Plans {RPPs}

Courses Included in Life/A&S CE Subscription


Courses Included in FPSC Subscription

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