Turning 71 soon?​ ​Switch to an RRIF.

A Registered Retirement Income Fund (RRIF) ensures you have steady income throughout your retirement years.

Turning 71 soon? ​Switch to an RRIF.

A Registered Retirement Income Fund (RRIF) ensures ​you have steady income throughout your retirement years.

A plan you can rely on

Discover the benefits

Understand the difference

Know your options

What to expect

How you'll benefit

A Registered Retirement Income Fund (RRIF) is a flexible income-producing investment that tax shelters your savings while allowing you to withdraw retirement income.

Features and benefits of an RRIF:

  • Flexibility in how much income you draw while minimizing the income tax you will pay
  • No withdrawl maximum
  • Grow your investments tax-free

Note: money withdrawn counts as income, meaning you'll have to pay income taxes on it.

What to expect

How you'll benefit

A Registered Retirement Income Fund (RRIF) is a flexible income-producing investment that tax shelters your savings while allowing you to withdraw retirement income.

Features and benefits of an RRIF:

  • Flexibility in how much income you draw while minimizing the income tax you will pay
  • No withdrawl maximum
  • Grow your investments tax-free

Note: money withdrawn counts as income, meaning you'll have to pay income taxes on it.

Understand RRIFs

The difference between RRSPs and RRIFs

RRSPs and RRIFs both allow for tax-deferred growth and interest growth, meaning your balance grows until its withdrawn.

The primary difference is RRSPs is a tax-free savings plan used to invest for your retirement while RRIFs are tax-sheltered (you only pay taxes on what you withdraw) that allows you to take out income in retirement.

One is a savings plan (Registered Retirement Savings Plan), the other is an income fund (Registered Retirement Income Fund).

Understand RRIFs

The difference between RRSPs and RRIFs

RRSPs and RRIFs both allow for tax-deferred growth and interest growth, meaning your balance grows until it's withdrawn.

The primary difference between the two plans is that RRSPs is a tax-free savings plan used to invest for your retirement while RRIFs are tax-sheltered (you only pay taxes on what you withdraw) that allows you to take out income in retirement.

One is a savings plan (Registered Retirement Savings Plan), the other is an income fund (Registered Retirement Income Fund).


Decision making

Investment Options

Think of an RRIF as a basket of investments. You can invest in your RRIF with: 

  • term deposits (e.g. GICs)
  • equity (e.g. mutual funds)
  • fixed income (e.g. stocks and bonds)

Speak with an advisor today >

 Decision making

Investment Options

Think of an RRIF as a basket of investments. You can invest in your RRIF with:

  • term deposits (e.g. GICs)
  • equity (e.g. mutual funds)
  • fixed income (e.g. stocks and bonds)

Speak with an advisor today >

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Tools & Resources

RRIF Calculator

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Savings Growth Calculator

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Budget Planner

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RRSP

The Registered Retirement Savings Plan (RRSP) helps you save money for your retirement.

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Plan for retirement

Enjoy the best years of your life. Learn more about preparing a retirement savings plan, insurance, and applying for a pension.

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Get financially fit

Get into shape by building healthy habits for your financial future. Learn more about our Financial Fitness series.

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RRSP

The Registered Retirement Savings Plan (RRSP) helps you save money for your retirement.

LEARN MORE

Plan for retirement

Enjoy the best years of your life. Learn more about preparing a retirement savings plan, insurance, and applying for a pension.

LEARN MORE

Get financially fit

Get into shape by building healthy habits for your financial future. Learn more about our Financial Fitness series.

LEARN MORE

Guidance you can trust

Join today and see why so many are switching to SASCU.

Guidance you can trust

Join today and see why so many are switching to SASCU.