Registered Retirement Income Funds

A Registered Retirement Income Fund (RRIF) is a vehicle for investing registered retirement income and for tax deferral until the money is withdrawn.

You do not contribute money to a Registered Retirement Income Fund, you receive an income from a RRIF. Retirement income is accumulated in an RRSP. When this money is to be withdrawn in a regular retirement income stream, the RRSP is converted to a RRIF. You can convert your RRSPs into a RRIF at any time before the age of 71.

Registered Retirement Income Funds can be made up of many different types of investments including mutual funds, segregated funds, GICs, stocks, and simple annuities. The investment income in a RRIF accumulates tax free, but it is subject to tax upon withdrawal and each year the RRIF holder must withdraw at least a minimum portion of the money in the fund and pay tax on it.

Work With Redcliffe Financial Group

A Registered Retirement Income Fund is one of the most flexible retirement income vehicles, however, with flexibility comes responsibility.

Redcliffe Financial Group can help you to review your retirement plan and see if a RRIF fits into your retirement income stream mix. Contact us today to see how a Registered Retirement Income Fund can work for you.