Retirement Income Options

RRIF

Is it time to withdraw money from your RRSP? The registered retirement income fund (RRIF) is specifically designed for this stage of life. The RRIF offers flexibility in determining your investment strategy and amount to withdraw.  These terms can be changed at any time.  Only amounts withdrawn from the RRIF are taxable. Any gains within a RRIF are tax-sheltered. 
 
RRIF advantages:
 
  • You may choose to receive your annuity monthly, quarterly, semi-annually or annually.
  • Funds are tax-sheltered until withdrawal.
  • Interest accumulates on unused funds.
  • Flexibility to invest in guaranteed interest accounts or in segregated funds.
 
 

Immediate annuities

If a guaranteed income is important to you, an immediate annuity could be the solution. Whether for a fixed period (annuity certain) or for life (life annuity), the income from the immediate annuity and the credited interest rate are guaranteed.
 
Here are a few of the benefits of immediate annuities:

 
  • Option of life or prescribed annuities.
  • Possibility of receiving your annuities monthly, quarterly, semi-annually or annually.
  • Guaranteed periods available on life annuities.
 
 

LIFs (life income funds)


Are you looking for an investment strategy that will allow you to make the most of your retirement and determine the amounts to withdraw from a pension plan, a LIRA or a locked-in RRSP? The LIF could be the perfect solution. The investment strategy and amount of withdrawals can be modified at any time.