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Registered Retirement Income Funds (RRIFs) are the most popular form of self-directed retirement income.
A RRIF is basically the reverse of your RRSP. Instead of putting money into a savings plan, you withdraw it as an income source at regular intervals throughout the year. Plan holders are required to take a minimum level of taxable payments from their RRIF on an annual basis. At age 71, all RRSP investments must be converted to either a RRIF or an annuity.
Discover the retirement income options available to you.
Your investment continues to grow tax-sheltered while in a RRIF account.
You choose the payment schedule and withdrawal amount (as long as the required minimum is taken out).
If you pass away, your RRIF can be transferred tax-free to your spouse.
Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.