Gifts of RRSP / RRIF Funds

Gifts of RRSP/RRIF Funds Retirement funds are an excellent way to grow wealth during your lifetime, but not an effective way to transfer wealth to the next generation. While contributions to these funds are free from taxation when the contributions are made, at death the total value of these assets must be reported as income and are fully taxable to the owner’s estate if there isn’t a qualifying beneficiary.

Whether you are enrolled in an RRSP or have already converted your RRSP to an RRIF, you can name Memorial University of Newfoundland as the beneficiary of all or a portion of any retirement funds remaining.

The advantages of donating RRSPs and RRIFs

  • The tax credit your estate receives as a result of the donation will offest the tax on the proceeds
  • Gifts of RRSPs and RRIFs fall outside your estate and are not subject to probate fees
  • You have the satisfaction of providing a future gift while retaining ownership and use of the fund during your lifetime

It is a very easy gift to make. Changing your beneficiary is as simple as visiting your RRSP/RRIF administrator. He or she will ask you to sign a beneficiary form.

When changing the beneficiary designation please note that the university’s legal name is Memorial University of Newfoundland. The university’s charitable number is 10769 0273 RR0001.

For more information contact Catherine Barrett at (709) 864-2157 or e-mail


Alumni Engagement

230 Elizabeth Ave, St. John's, NL, CANADA, A1B 3X9

Postal Address: P.O. Box 4200, St. John's, NL, CANADA, A1C 5S7

Tel: (709) 864-8000