Oaken 2024 RRIF Payment January 31 2024. | Oaken Financial | Discussion forum

Due to CDIC coverage and good estate planning. I had to move some RRIF GICS to one Bank at Oaken and my wife’s would be in the other Bank. In the event of death, this move prevented either one of us, to have over $100,000 in a bank. Oaken was very obliging to handle this for me, mid term.

Not realizing …. that I just assumed all my set ups would be the same. NOT! Well, actually I slipped on remembering to do so.

The payout date defaulted to January 31 every year. And that is actually better for me. I have changed Hubert and wife’s Oaken to same date. And the default payout was mail and not to my preferred Oaken savings account. My error.

And surprise, surprise… just went to mail box and there was my 2024 RRIF payout. How nice! 9 days ahead of time.

And the cheque amount is same as what has been showing in my account for the past months.