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RRIF Overview

Registered Retirement Income Fund (RRIF)

While RRSPs help you save for retirement, RRIFs are used to withdraw income during retirement. You’re not allowed to make contributions to RRIFs and you’re required to make minimum withdrawals each year. Even though you cannot contribute to a RRIF, your investments continue to grow tax-deferred inside the RRIF until withdrawn.

RRIF Benefits

  • Delivers continuous stream of income during retirement
  • Holdings can be chosen from a wide range of options.
  • Investments can grow on a tax-free basis within the plan
  • Income tax on the amount transferred from your RRSP to RRIF is deferred until a withdrawal
  • RRIF income can be split with a spouse if spouse is at least 65 years of age.
  • RRIF assets can be left to heirs.

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