Registered Retirement Income Fund (RRIF)

Did you know that when you retire or reach age 71 - whichever comes first - your RRSPs will need to be converted to one or more retirement income options?

  • Funds will remain tax sheltered.
  • The interest will be paid back into the RRIF.
  • A RRIF provides flexible options for maturing RRSP's.
  • It can be customized to meet your personal goals and budget requirements.
  • You don't have to take any payment from RRIF in the calendar year it is first funded. In subsequent years there is a mandatory minimum payment amount which changes annually based on your age and the total value of your RRIF. There is no maximum amount you can withdraw as long as CRA requirements are met.

RRIF Variable

  • Interest is calculated daily and paid monthly
  • You arrange the amount and frequency of the payments

RRIF Fixed Rate

  • interest is paid annually
  • choose between 1 year to 5 year options

Our staff can help you make sense of your options and identify the fund strategy that works best for your lifestyle.