Chapter 6 · 6.1 Simplifying the tax system
Making it easier to manage retirement savings
No cost line
No line of its own in the chapter cost table. Announced in the text without its own line in the chapter cost table: regulatory, already funded, or costed elsewhere. Amounts in the text below may be previously announced, funded from existing resources, or financing rather than budgetary cost.
What the budget says
“Budget 2026 announces the government's intention to merge the tax rules applicable to RRSPs and RRIFs, introducing an "RRSP-for-life." This would eliminate the need to convert an RRSP to a RRIF at age 71.”
Budget 2026, p. 294 (PDF p. 312)
Also in this section
- Making it easier for Canadians to manage their taxes$821MTax measureHouseholds
- Connecting more Canadians to federal benefits$334MProgram spendingHouseholds
- Making it easier to do business$236MTax measureBusinesses