A RRIF or Registered Retirement Income Fund is an account designed to let the money in your RRSP grow tax free after the age of 71. The account also lets you spread out any tax you would pay on RRSP withdrawals. You cannot make any contributions to your RRIF after the initial roll over of your RRSP, it is simply meant to take care of the money you already have. However, you will have annual minimum withdrawal, based on your age. You can, of course, take more than the minimum out if you want, but you must withdraw the minimum.


This account can be used with certain term deposits or our Wealth Management products to get you a maximum return.

Variable RRIF

  • Interest calculated daily and paid semi-annually on June 30 and December 31
  • Interest rate determined by market

Fixed Rate RRIF

  • 1 - 5 year terms which automatically renew at current rates
  • $1000.00 minimum investment required
  • Interest calculated daily and compounded annually
  • Interest rate determined by market

Mortgage Investment Certificate RRIF

  • 1 - 5 year term
  • $1000 minimum investment required
  • Redeemable with 1% penalty of principal balance for each year remaining or part thereof
  • Variable rate, floats with average yield on total 1st mortgage portfolio
  • Rate is adjusted monthly
  • Interest paid annually

For more information on any of the Registered Retirement Income Funds, drop in to your local branch or give us a call


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