Congratulations on Your 65th Birthday!

Your 65th Birthday is a major milestone in your life and a wonderful time to celebrate. Congratulations and best wishes from all of us at FBC.

The Government of Canada also recognizes your 65th year. So, if you have not yet applied for your Canada Pension Benefits or Old Age Security Pension, you should do so as soon as possible since you are now eligible to receive both.

You could also be eligible for Guaranteed Income Supplement benefits. Just call Human Resources Development Canada toll free at 1-800-277-9914 and ask them to send you the application forms. If you need help in completing the forms, please give FBC a call. Alternatively, you can make an appointment with your local Human Resources Centre.

In addition, you are eligible for the Age Amount. Depending on your level of taxable income, you could qualify for an additional non-refundable tax credit of up to $3,787 (for 2003 - the amount is indexed to increase each year). We will determine the amount of your credit, when we complete your income tax return.

Although it is not necessary to convert your RRSPs to some form of retirement income until you are 71, it could be beneficial to roll at least some of them into a registered retirement income fund (RRIF) right now. Then you could be eligible for the $1,000 pension income deduction on the resulting RRIF income.

Our financial and estate planning division can help you make the right decisions in this regard.

An estate plan is very important at your stage in life - and, since estate planning services are included in your FBC membership and provided at no extra cost, we hope you will take advantage of Harvest's expertise.

We at FBC want to ensure you take advantage of all of the tax benefits that come to you at age 65.

Contact us toll free at 1-800-265-1002 if we can help you with these or any other tax matters.