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Retirement Income Fund (RIF)


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, mutual funds or other investment vehicles 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

The Mortgage Investment Certificate (MIC) provides a rate based on the average yield of the current mortgage portfolio. The longer you invest the higher rate of return you receive.

  • 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.


RIF Calculator


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Variable (Interest Calculated Daily, Paid Semi-Annually)


RIF Non Redeemable: Min Deposit $1000.00

Five Year


Four Year


Three Year


Two Year


One Year


RIF Chinook Select

Five Year


The Legal Stuff:

*Rates effective as of 11 March 2020. Terms and conditions apply. All principal and interest is 100% guaranteed by the Credit Union Deposit Guarantee Corporation, excluding common shares, investment shares, and mutual funds. All rates and products are subject to change without notice.


Online brokerage services are offered through Qtrade Investor, a division of Credential Qtrade Securities Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments and the use of an asset allocation service. Please read the prospectus of the mutual funds in which investment may be made under the asset allocation service before investing. Unless otherwise stated, mutual funds and other securities are not insured nor guaranteed, their values change frequently and past performance may not be repeated.  


The advice on our website is prepared without knowing your personal objectives, financial situation or needs. Before you act on this or any advice, please consider if it's right for you, and reach out to our teams to help determine if the product is appropriate for you.  Legal Terms of Use apply.