Registered Retirement Income Fund (RRIF)
Keep your savings growing tax-deferred while providing a predictable stream of retirement income.
Grow your money with a RRIF
Your RRIF can hold cash, GICs, mutual funds, stocks, bonds, ETFs, and more. Choose investments that help your savings continue to grow.
RRIF Investment Savings Account
Earn 0.05%* interest on all your savings, with easy access in branch or online.
RRIF GICs
Grow your savings through our RRIF‑eligible short and long-term Guaranteed Investment Certificates.
RRIF mutual funds, stocks and bonds
Diversify your RRIF investments like an expert with direct access to our wealth advisors.
Advantages of a RRIF
A Registered Retirement Income Fund is essentially the reverse of an RRSP, designed to provide a steady income stream while keeping your savings protected.
Tax-deferred growth
Your investment grows tax‑deferred while benefiting from compound interest.
Flexible income stream
Choose your payment schedule and withdrawal amount, making sure you meet the minimum.
Avoid estate tax
If you pass away, your RRIF can be transferred tax free to your spouse.
Take a look at our brochure to learn about the retirement income options available to you.
How a RRIF works
1
Convert your RRSP to a RRIF
By the end of the year you turn 71 (or earlier if needed), convert your RRSP to a RRIF without cashing out your investments.
2
Start taking withdrawals
Begin RRIF withdrawals the year after opening, meeting the minimum set by federal regulations.
3
Report withdrawals as income
RRIF withdrawals are taxable income. Any funds you withdraw will be taxed in the year you receive them.
Top 5 questions about a RRIF
What is a Registered Retirement Income Fund (RRIF)?
A Registered Retirement Income Fund allows you to turn your RRSP savings into a dependable stream of income in retirement. Your investments grow tax sheltered while you receive regular payments that support your lifestyle after leaving your creative career.
When do I need to convert my RRSP to a RRIF?
You must convert your RRSP to a RRIF by the end of the year you turn 71, though you can convert earlier if it suits your plans. This lets you begin receiving income the following year while keeping your investments intact.
How do RRIF withdrawals work?
You start withdrawals the year after your RRIF is opened. You choose how often and how much you withdraw, as long as you meet the minimum required by the government. All withdrawals count as taxable income in the year they are received.
What are the benefits of a RRIF?
A RRIF provides steady retirement income, continued tax-sheltered growth, and the ability to transfer remaining funds to a spouse tax free upon death. It allows you to enjoy the results of your hard work while staying financially secure.
What should I know about RRIF taxes and rules?
RRIF tax rules, minimum withdrawals, and eligibility criteria are set by the Government of Canada and may change over time. Since withdrawals are taxable, it can be helpful to seek advice from a financial professional.
Make the most of your retirement income
We can help you get started with your RRIF over the phone or online, and you can visit us in person at a branch.
Call us
at 1‑800‑616‑8878
Book an appointment
to meet with us virtually
Visit us
at one of our branches