RRIFs

A Registered Retirement Income Fund (RRIF) provides an income at retirement. Although you may set up a RRIF at any age, it is mandatory to convert or redeem any RRSPs you have into a RRIF at age 71. One of the benefits is that you’re able to minimize taxes by spreading your RRIF income over a number of years. In addition, the money that remains in your RRIF continues to grow tax-sheltered – just as it did in your RRSP.

RRIF Investment Options: We offer access to a range of RRIF investment options to suit your needs and objectives. From Fixed-rate Plans to Step-Up Investments to more than 1,800 mutual funds*.

RRIF Calculator

Your don’t have a choice about transferring any RRSP savings into a RIFF. You do have choices on how to make it work.

RRIF RATES

RRIF TERM DEPOSITS	RATES
1 Year – As high as	4.50%
2 Year – As high as	4.45%
3 Year – As high as	4.40%
4 Year – As high as	4.30%
5 Year – As high as	4.25%

VARIABLE RRIF (tiered by balance)	RATES
$0 – $5,499	0.50%
$5,500 – $24,999	0.50%
$25,000 +	0.50%

*Mutual funds are offered through Credential Asset Management Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual fund securities and cash balances are not insured nor guaranteed, and are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Their values change frequently and past performance may not be repeated. their values change frequently and past performance may not be repeated.

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