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​Live comfortably with a RRIF

With a Registered Retirement Income Fund, you can receive regular income from your matured Registered Retirement Savings Plan (RRSP) while only paying income tax on the amount you withdraw from the fund. Remember, at age 71, all RRSP investments must be converted to a RRIF, an annuity or cash.  

Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA).

With good planning, this mature couple enjoys a comfortable retirement.

The benefits of a RRIF


​Lower your tax – Instead of paying income on the entire sum of your savings, you’ll be taxed at the prevailing marginal tax rate only on the amount that you take as income during that year.

Grow your money – The balance of your retirement savings will continue to grow and will remain sheltered from tax.

Consolidate your savings – While you don’t contribute directly to a RRIF, funds can be transferred from another RRIF, RRSP or RSP, or a commuted RRSP annuity.

Guarantee your investment – At IC Savings, we offer variable rate and fixed-rate term deposits with terms of 1 to 5 years.

Hold a number of investments – Qualified investment such as term deposits, investment savings accounts, stocks and mutual funds can be held in your RRIF.


Have questions

No matter your retirement plans, our team can answer all of your questions and help you maximize your retirement savings. 


Mortgage Calculator ​How much will I save?

​Use our RRIF calculator to estimate how much your retirement savings will be worth when you reach retirement, and how much income you can plan to receive.