Registered Retirement Income Funds

If you've been contributing regularly to a RRSP and have retirement savings, you've likely accumulated a sizable nest egg. Transferring your RRSP to a Registered Retirement Income Fund, or RRIF, puts you in control of your future when you retire.

RRIFs provide income for your retirement

A RRIF is a tax-sheltered retirement income option for converting RRSP funds. It can provide you and your spouse with an income to last your lifetime. Since this income is spread over your retirement years, the tax management can be structured to work for your situation as well.

We offer a wide variety of flexible RRIF options at competitive interest rates, with no startup, annual administrative or service fees. You set the payment schedule from your RRIF, and change the size of the payments occasionally, within the minimum requirements.

Did you know?

You can purchase a RRIF anytime before your 71st birthday. You don't have to take an income payment the year the RRIF was purchased . However, after the first year, you must withdraw a minimum annual payment based on your age and the total value of your RRIF at the beginning of the year.


It is mandatory to convert your RRSPs to RRIFs the year you turn 71. You can also consider converting your RRSP funds to a RRIF when you need more cash on a regular basis. Income from a RRIF qualifies for the Pension Tax Credit. Remember that the minimum mandatory payment from an RRIF is taxable income.

Other retirement income options include term certain annuity and reverse mortgages.

To view Coastal Community's RRIF Terms and Conditions of the Declaration of Trust, click here.