Registered retirement income fund (RRIF)

Convert your savings into flexible retirement income
Access your money when you need it, for whatever you need it for in retirement.

What is a RRIF?
It’s like a Registered Retirement Savings Plan (RRSP) in reverse. An RRSP helps you save for retirement through annual contributions. A RRIF does the opposite, requiring you to take minimum annual withdrawals from your savings to help fund your retirement.

How does it work?

  • Convert your RRSP to a RRIF at any time, before Dec. 31 of the year you turn 71.
  • Choose how you’ll invest your money.
  • The government determines the minimum amount you must take out each year.
  • However, you have flexibility on how much you withdraw over the minimum amount and when you’ll receive it.
  • All your RRIF withdrawals are taxable as employment income.
  • Use our handy calculator to see how much income you’ll get from your retirement savings.

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