IMPACT OF THE 1996 FEDERAL BUDGET ON REGISTERED SAVINGS PLANS
=============================================================

RRSP AND RPP CONTRIBUTION LINITS
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The RRSP and RPP contribution limit has been changed as follows:

               RRSP                                             RPP
	       ~~~~~~~~~					~~~~~~~~~ 
1996-2003      $13500.00                          1996-2002     $13500,00
     2004      $14500.00                               2003     $14500.00
     2005      $15500.00                               2004     $15500,00
2006 & up      indexed by growth in avg.wage      2005 & up     indexed

CARRY-FORWARD TIME LIMIT
~~~~~~~~~~~~~~~~~~~~~~~~
The 7 year carry-forward of unused RRSP
contribution room has been changed to an unlimited carry-forward.

AGE LIMIT FOR CONTREBUTIONS AND MATURITIES
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The age limit to contribute to an RRSP,
DPSP or RPP has been reduced to 69 years.

-Individuals with RRSP room after age 69 may contribute to a
spousal  RRSP until the end of the year in which the spouse tums 69.


The new rates come into effect as follows:
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
-The reduction in age liniit does not apply to individuals
who are 70 years of age or older in 1996 - they ue still able
to collapse their plans based on the previous age limit of 71 years.

-Individuals tuming 69 in 1996 must
collapse their RRSP's by the end of 1997.

-For all others, RRSPs must be collapsed by
the end of the year in which they turns Age 69.

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