johanley / end-game

Personal finance simulator for retired Canadians.
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Add support for LIRA/LIF #4

Closed johanley closed 2 years ago

johanley commented 2 years ago

On the surface, Lira/Lif are analogous to Rsp/Rif, with the addition of maxima.

BUT, Lira/Lif accounts are subject to provincial legislation, so there's likely a bunch of variations. I've read that the maxima are linked to market conditions. That means they would need to be updated every year, and that across all provinces. A bit tedious.

Note that the province is the province of former employment, which can differ from the province of residence.

Feds: https://www.osfi-bsif.gc.ca/Eng/pp-rr/faq/Pages/lif-frv.aspx General: https://ca.rbcwealthmanagement.com/delegate/services/file/3244485/content

I could input the RBC data above as a starting point. But that data changes every year, according to interest rates.