With regard to the May 2010 changes to the Functional Guidance and Procedures for Registered Retirement Income Fund (RRIF) withdrawals and Guaranteed Income Supplement (GIS) adjustments: (a) what was the rationale behind changing the guidelines, such that seniors who voluntarily withdraw funds from their RRIFs may no longer be eligible for GIS, Allowance, or Allowance for survivors benefits; (b) why is there a distinction such that seniors who withdraw funds from a RRIF are penalized, while it is possible to withdraw the same amount from a savings account without impacting GIS eligibility and payment amounts; (c) who was responsible for the decision to make these changes; and (d) in light of the recommendation from The Honourable Justice E.A. Bowie and The Honourable Justice J.E. Hershfield of the Tax Court of Canada that this policy should be reviewed, what has the government done to examine the effects of these procedures and ensure that they are in the best interest of Canadian citizens?
In the House of Commons on January 31st, 2011. See this statement in context.