Registered Retirement Income Fund - RRIF

When it's finally time to start enjoying the fruits of your labour a RRIF is exactly the product you need. Simply set one up with the proceeds from your RRSPs (or alternate RRIF).

With RRIFs, you must withdraw a set amount from the fund every year. While the amount you withdraw is taxable, growth within a RRIF is not.

If you feel that a RRIF is right for you, would be glad to help you get started.

Registered Retirement Income Fund is one of the most flexible ways to convert your RRSP into an ongoing source of income.

An RRIF is like an RRSP in reverse: Your investment continues to grow tax-deferred and remains directly under your control. However, instead of making regular contributions, you make regular withdrawals according to a predetermined schedule. These withdrawals then become taxable upon receipt. RRIFs also give you the flexibility to increase your income or take lump-sum withdrawals whenever you choose.

A variety of investments are also available within an RRIF, including GICs, equities and others, providing you with the flexibility to manage the ongoing growth of your investment.