RRIF

Benefits and Guidelines of a RRIF

While an RRSP can be converted into a RRIF at any age, this must be done by the end of your 71st year
The Canada Revenue Agency requires a minimum withdrawal by Dec 31st the following year
This amount is calculated by a percentage of the RRIF balance on Dec 31st each year
You must designate a beneficiary for your RRIF. Choose a Primary and Alternate Beneficiary as this will help with your Estate Planning upon death
RRIFs can be invested into any one or combination of the following products – Term Deposits (Guaranteed Investment Certificates) with OCCU or Mutual Funds, Stocks and Electronic Traded Funds through our partners QTrade and/or VirtualWealth

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