Registered Retirement Income Fund. A government-registered plan that allows your investments to grow tax-sheltered while you are in retirement. Your money remains tax-sheltered until it is withdrawn as retirement income and becomes taxable. Minimum annual withdrawals must be made. By rolling your RRSP into a RRIF, you can keep the same investments as you had in your RRSP.
A Registered Retirement Income Fund which, is one of the tax deferral vehicles available to RRSP holders upon maturity of their plans.
a financial vehicle to systematically disburse the proceeds of an RRSP
a maturity option, which provides for the repayment of accumulated retirement savings plan assets
an financial product funded with RRSP deposits and designed to provide an income stream during retirement
an ideal choice for members who want a flexible plan, who want to make their own decisions regarding retirement income, and for estate preservation
an investment plan, established in accordance with Government of Canada requirements, into which you can transfer registered funds (usually your RSP) without tax liability for the purpose of establishing an income stream for life
an investment vehicle that provides you with regular income during your retirement while still allowing tax-sheltered capital growth
an investment vehicle used to produce
a popular option for converting accessible savings, such as RRSPs, into regular income during retirement
a retirement investment vehicle that allows you to maintain control of your money during your retirement years
a totally different animal from an RRSP
a vehicle designed to provide retirement income with funds accumulated in a RRSP and is an excellent alternative to an Annuity
a vehicle for tax deferral similar to an RRSP, except it now provides you with income for your retirement years, rather than making contributions each year
Registered Retirement Income Fund. RRIF enables the annuitant to gradually withdraw their registered funds and to pay taxes only on the portion withdrawn each year. RRSP must be converted to a RRIF or an annuity must be purchased by December 31 of the year in which the contributor turns 69. This conversion has no tax repercussions. The balance or a portion of the RRIF may be converted to an annuity at any time.
Registered Retirement Income Fund. A RRIF is a tax deferral vehicle available to Registered Retirement Savings Plan (RRSP) holders who de-register their plans. The plan holder invests the withdrawn RRSP funds in the RRIF and each year must withdraw and pay income tax on a set fraction of the total assets in the fund.
Registered Retirement Income Fund. An extension of an RRSP, the RRIF is an investment vehicle that allows a person to continue to shelter retirement savings from tax until the funds are withdrawn as income. You cannot contribute to an RRIF and must withdraw a minimum amount each year commencing the year after you open the plan.
Registered Retirement Income Fund. A fund set up with proceeds from an RRSP to provide income during retirement.
Registered Retirement Income Fund. A retirement savings plan that has been converted to an income plan according to government regulations. It is an account that requires you to withdraw a specified minimum amount each year. Investments in the plan continue to grow tax-free.
Registered Retirement Income Fund. A Registered Retirement Income Fund (RRIF) is similar to an RRSP except that you cannot make contributions, and you are required to withdraw a minimum amount each year.
One of the tax deferral vehicles available to RRSP holders who deregister their plan.
REGISTERED RETIREMENT INCOME FUND. A personal retirement income fund offered by financial institutions. A RRIF is used to provide an ongoing minimum flow of income. The minimum withdrawal amounts are determined by the Income Tax Act. RRIFs are governed by the Income Tax Act. Transfers to RRIFs from federally registered pension plans are not permitted.
See Registered Retirement Income Fund.
Registered Retirement Income Fund. A retirement income option for people who want to make their own decisions. It is the most flexible of all retirement income plans, as you control both the amount of monthly/annual payments to you, and the type of investment. Funds for a RRIF must be transferred from an RRSP, another RRIF, a Registered Pension Plan or a commuted RRSP annuity.
Registered Retirement Income Fund. A registered plan allows you to save for your retirement while lowering your taxes. The amount of money you contribute into an RRSP reduces the amount of income you pay taxes on. As well, the interest or investment income the investments inside the RRSP make is also tax-free. You don't pay tax until you withdraw your savings from the account.
Registered Retirement Income Fund. A maturity option available for RRSP assets to provide a stream of income at retirement.
When you convert your RRSP to a RRIF or Registered Retirement Income Fund, you continue to enjoy the benefits that you had with your RRSP including tax-sheltered growth, investment control and flexibility. RRIFs bring other benefits: they allow you to vary your income stream from year to year (subject to a minimum amount set by Canada Customs and Revenue Agency) and to make additional withdrawals when needed.
Registered Retirement Income Fund. Much like a Registered Retirement Savings Plan in reverse. It does not permit annual contributions and the resulting tax deductions that an RRSP does, but requires the withdrawal of certain amounts each year. Otherwise an RRIF operates much the same way as an RRSP. Once amounts are withdrawn from a RRIF, they are subject to income tax at the recipient's marginal tax rate.
