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Registered Retirement Income Fund (RRIF)

What is a Registered Retirement Income Fund (RRIF)?

A RRIF is a cost-effective way of providing yourself with an income when you retire. It's a special account registered with the Government, and designed to provide you with a reliable income once you've stopped working.


The natural home for your RRSP savings

You open a RRIF by transferring your accumulated RRSP savings, and possibly some other forms of registered plans, according to your circumstance. You won't pay any tax on the money held in a RRIF, so long as it stay in. You only pay tax when you withdraw it.


How much can I contribute?

Once you've set up the RRIF, you can't add any more into it, but you can set up another RRIF if you want.


How much can I withdraw? 

There's no maximum amount you can withdraw, but there is a minimum you need to take out each year. If you over 65, and you don't have a company pension, you can usually withdraw up to $2,000 per year tax free.


Key features of a RRIF

  • Tax-efficient way to fund your retirement
  • All savings held in a RRTFF are tax free
  • You only pay tax on withdrawals
  • Open to anyone with a RRSP until the age of 71
  • You can open multiple RRIF accounts
  • No maximum withdrawals - take more cash if you need it
  • Spouses can inherit your RRIF tax free


Your account, your choice of investments

Your RRIF plan can include a wide variety of investment types, including GICs, segregated funds, bond, stocks and ETFs.


How Jeff can help

Jeff and the team will help you transfer your existing RRSP into a new RRIF. We'll also advise what other investments you might be able to add in too. We'll also take a good look at the balance of investments, stocks, etc, within your RRTF to match your personal requirements and risk tolerance.


Call us for details on 519-485-5801

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7 St. Andrew Street

Ingersoll, Ontario

N5C 1K6 Canada


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