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I live in ON. Jim Yih wrote Are You Taking Advantage of the Pension Income Tax Credit?

Transfer RRSP to a RRIF. At age 65 transfer $12,000 to a RRIF and take $2000 out per year from age 65 to 71(inclusive). This essentially allows you to get $2000 out of your RRSP tax-free for 6 years. Whether you need the income or not, it is an opportunity you do not want to miss.

But hydraSlav and aughhhhh say Jim Yih is wrong. Why? Pls ELI5.

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