Registered Retirement Income Funds

A Registered Retirement Income Fund (RRIF) is a retirement savings plan created when RRSP funds are transferred into to continue to defer taxes and begin withdrawing funds for retirement income.  A Member can create a RRIF from RRSP investments at any age.  However, RRSPs must be withdrawn in cash or transferred to a RRIF by the end of the year that the Member turns age 71. 

Each year after that, a Member can withdraw any amount they choose, but there is a minimum payment that must be withdrawn based on your age and total value of the RRIF at the beginning of each year.  Regular payments of either the minimum or specific amount, can be received at a schedule that you choose, monthly, semi-annually or annually.  When the payment is made, there will be withholding tax that is remitted to the government on your behalf.  We can help you determine your needs and can adjust your payment schedule as your needs change.

All registered products held in a savings or term deposit are insured by Deposit Insurance Corporation of Ontario (DICO).

Learn More about RRIFs.


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