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Definition of 'Lifelong Learning Plan'
A provision applicable to the Canadian Registered Retirement Savings Plan (RRSP). The plan allows RRSP contributors a non-taxable temporary withdrawal of up to $20,000 from their accounts in order to finance their education or that of their spouse. The provision is subject to limitations, such as a $10,000 annual withdrawal limit and a maximum repayment period of 10 years, after which the ability to recontribute the borrowed sum is lost.
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Investopedia explains 'Lifelong Learning Plan'
Similar to the Canadian government's Home Buyer's Plan, this provision is intended to allow Canadians to finance their education without losing the benefits of tax-deferral in building their retirement nest egg.
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Search results for 'Lifelong Learning Plan'
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http://www.investopedia.com/university/rrsp/rrsp7.asp
... RRSPs for Lifelong Learning The Lifelong Learning Plan (LLP) is just like the RRSP
Home Buyer's Plan - it's a way to borrow money from your RRSPs. ...
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http://financialedge.investopedia.com/financial-edge/0311/The-Great-Canadian-Tax-Quiz.aspx
... you have to repay part of your Old-Age Security benefits, you still have amounts
owing under the Home Buyers Plan or the Lifelong Learning Plan, or if you ...
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http://www.investopedia.com/university/rrsp/rrsp10.asp
... The Lifelong Learning Plan allows RRSP contributors to borrow from their
plans to pay for education for themselves or their spouses. ...
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http://www.investopedia.com/articles/trading/10/top-ten-rules-for-trading.asp
... traders need to remain focused on learning more each ... of their intricacies, is an
ongoing, lifelong process ... be the inspiration behind developing a trading plan. ...
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http://financialedge.investopedia.com/financial-edge/0112/The-Increasing-Costs-Of-College.aspx
... is the one thing separating them from lifelong poverty ... Who's Learning What Earning
a diploma or certificate is but one ... check out A Post-Graduation Financial Plan ...
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http://www.investopedia.com/articles/retirement/07/ethical-will.asp
... But while a traditional estate plan can accomplish the ... as a vehicle to express lifelong
sentiments that ... words of wisdom and invaluable learning experiences to ...
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