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Ukraine’s Neptune Missiles Strike Novorossiysk Port, Damaging Key Russian Infrastructure

  Ukraine's President Volodymyr Zelenskiy awards a Ukrainian serviceman while he visits a command position of the 65th Separate Mechanized Brigade 'Velykyi Luh' at a front line, amid Russia's attack on Ukraine, in Zaporizhzhia region, Ukraine November 13, 2025. Ukrainian forces carried out a significant overnight strike on Russia’s Black Sea port of Novorossiysk , using domestically produced Neptune cruise missiles . The attack, which took place on the night of November 13–14, 2025 , targeted strategic military and energy facilities in the port city of Krasnodar Krai. According to Ukraine’s General Staff, the strike damaged valuable port infrastructure , including the Sheskharis oil terminal , a launcher from Russia’s S-400 air defense system , and a missile storage site. The latter reportedly detonated, causing fires across the port area. Video footage and reports confirmed that drones accompanied the missile barrage, amplifying the destruction. President Volodymyr ...
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RRIF Withdrawals: What Retirees Need to Know Before Year-End

As 2025 winds down, many Canadian retirees are seeking clarity on their Registered Retirement Income Fund (RRIF) withdrawals. By law, once an RRSP is converted to a RRIF, annual minimum withdrawals must begin the following calendar year. These withdrawals are calculated based on the fair market value of the RRIF at the start of the year and the age of the account holder—or their spouse, if that age was chosen when the RRIF was set up.

For 2025, the minimum withdrawal rates remain unchanged from previous years. For example:

  • At age 65, the minimum is 4.00% of the account’s value.
  • At age 71, it rises to 5.28%.
  • By age 80, the minimum is 6.82%, and it continues to increase gradually, reaching 20% at age 95 and older.

It’s important to note:

  • No withdrawals are required in the year a RRIF is first established.
  • Withdrawals above the minimum are subject to withholding tax, while the minimum amount itself is not.
  • Retirees can choose to base their withdrawal rate on the younger spouse’s age, which can lower the required minimum.

With markets fluctuating and inflation still a concern, retirees are weighing whether to take only the minimum or withdraw more to cover rising living costs. Financial advisors stress the importance of planning withdrawals strategically—balancing income needs with tax efficiency and long-term portfolio sustainability.

As the December 31 deadline approaches, retirees are encouraged to review their RRIF accounts, confirm their minimum withdrawal amounts, and consult with advisors to avoid last-minute surprises


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