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:
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Flexibility in how much income you draw while minimizing the income tax you will pay
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No withdrawl maximum
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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Note: money withdrawn counts as income, meaning you'll have to pay income taxes on it.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RRSPs and RRIFs both allow for tax-deferred growth and interest growth, meaning your balance grows until it's withdrawn.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:
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term deposits (e.g. GICs)
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equity (e.g. mutual funds)
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fixed income (e.g. stocks and bonds)
Our best rates for you
Variable Savings
0 to $5000
4.80
Variable Savings
$25,001 and over
.25
Investor Savings
0 to $5,000
1.40
Investor Savings
$5,001 and over
.25
Tools & Resources
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RRSP
The Registered Retirement Savings Plan (RRSP) helps you save money for your retirement.
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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