RRIFs - Registered Retirement Income Funds
An RRIF is a tax-sheltered retirement income option for converting RRSP funds
- regular contribution to RRSP will result in substantial accumulation of savings
- government regulations require all RRSPs to be converted to Registered Retirement Income Fund during the year you turn 71
- RRIFs are available in one (1) to five (5) year terms. RRIFs allow you to choose and vary the payment frequency and amount, as long as minimum mandatory payment set by the government is met.
- Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). For more information visit: FSRA Deposit Insurance Reserve Fund (DIRF)
Services Charges associated with registered products