Registered Retirement Income Fund (RRIF)
Think of a Registered Retirement Income Fund (RRIF) as an extension of your Registered Retirement Savings Plan (RRSP).
RRIFs are similar to RRSPs in many ways, the main difference being that contributions are not allowed beyond the initial investment. You may only withdraw from an RRIF.
The benefits of RRIFs:
- Provides a high level of control over your investments
- RRIFs can be left to a beneficiary
- Many RRIFs can be acquired – there’s no limit to how many an individual may invest in
What you need to know:
- You need to withdraw (and pay tax on) a minimum amount each year. This amount is determined by the CRA.
- There is no maximum withdrawal level.
- RRIFs are term investments. The term is determined by the age of the plan holder, or their spouse (if they are younger). If it’s determined by a younger spouse, the term will increase, as well as the amount you will be required to withdraw each year.
Cal LeGrow can help you decide where your investments are best directed, and help you to secure a financially stable future. Call us today to talk to a member of our team.
709.778.2388 / toll free 1.888.720.3282

Kirk Stoyles
Financial Advisor
709.778.4119
kstoyles@callegrow.com
709.778.4119
kstoyles@callegrow.com

Carl Grimes
Financial Advisor
709.778.2399
cgrimes@callegrow.com
709.778.2399
cgrimes@callegrow.com

Sean Kennedy
Financial Advisor
St. John's, NL
709.781.0576
skennedy@callegrow.com
St. John's, NL
709.781.0576
skennedy@callegrow.com