From saving to income
A RRIF can be viewed as an extension of an RRSP. The RRSP is used to save for retirement; the RRIF is used to draw income during retirement. RRSPs must be converted by the end of the year you turn 71.
RRIFs and RRSPs share several features: tax-deferred growth, several investment options, and government regulation.
Benefits of a RRIF
- Tax-sheltered growth on what remains in the plan
- Control over your income — how much and how often
- Tax-free transfer to a spouse
- Flexible investment options
Is this right for you?
- Canadians approaching or in retirement
- RRSP holders nearing age 71
- Retirees planning their income and estate
Frequently asked questions
Is there a minimum withdrawal?
Yes — a minimum percentage must be withdrawn each year, based on your age. Withdrawals are taxable income.
How it works
Talk to Brinder
Tell us about you and what you need — by phone, email or in person.
Compare options
We compare plans and explain the differences in plain language.
Get covered
We help you apply, then stay with you for renewals and claims.