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Saving and Retirement

Registered Retirement Income Fund (RRIF)

A registered retirement income fund (RRIF) acts as an extension of a registered retirement savings plan (RRSP). ). It allows you to advantageously utilize the amounts you accumulated throughout your working life: you periodically withdraw a portion of your savings and continue to accumulate tax-sheltered income.

Who Should Consider a RRIF?

Features and Advantages

Products Available



Who Should Consider a RRIF?


Retirees who wish or need to use their RRSPs as a source of income.


Persons wanting to retain a certain amount of autonomy in the management of their investments.



Features and Advantages


Your protection against financial market fluctuations may attain and even exceed 100% of the capital invested.



You pay no surrender fees for withdrawals made up to a maximum of 20% of the value of your contract at the beginning of each year.



You pay no annual administration fees.



Amounts withdrawn are taxed according to the tax tables in effect.



You can establish the income from your RRIF according to the age of the younger spouse.



You receive a pension income tax credit for the first $1,000 withdrawn annually starting at the age of 65.

You are required by law to withdraw a minimum annual amount from your RRIF. Over and above that amount, all periodic and lump sum withdrawals are taxable. No maximum withdrawal applies.

Table of RRIF Minimum Withdrawals

Age

Withdrawal

Age

Withdrawal

65

4.00%

83

9.58%

66

4.17%

84

9.93%

67

4.35%

85

10.33%

68

4.35%

86

10.79%

69

4.76%

87

11.33%

70

5.00%

88

11.96%

71

7.38%

89

12.71%

72

7.48%

90

13.62%

73

7.59%

91

14.73%

74

7.71%

92

16.12%

75

7.85%

93

17.92%

76

7.99%

94

20.00%

77

8.15%

95

20.00%

78

8.33%

96

20.00%

79

8.53%

97

20.00%

80

8.75%

98

20.00%

81

8.99%

99

20.00%

82

9.27%

100

20.00%



Products Available

A RRIF permits you to invest in the following investment vehicles:

Daily Interest Funds
For persons wishing to accumulate money to make investments and accumulate interest on a daily basis.


Guaranteed Interest Funds

 

(See the rates in effect.)
For persons seeking capital protection and a stable return.
         

Ecoflextra’s Guaranteed Surrender Series Investment Funds

 

A range of investment funds which favour capital protection through the payment of a guaranteed, pre-determined retirement income for lifetime or at least 20 years, while offering growth potential.
         

Ecoflextra’s Classic Series Investment Funds

 

A range of investment funds designed for those who seek long-term growth potential and low-cost capital protection.
         

Ecoflex Investment Funds

 

A range of investment funds which offer a full guarantee of your capital and medium- to long-term growth potential.  In addition, amounts generated by your investments, over and above your deposits, may also be protected.
         

Life Investment

 

For those who are seeking the comfort and security of a guaranteed income for life. The life investment available in the Ecoflex RRIF contract provides you with a turnkey product that combines the security of an annuity and the advantages of a RRIF in a single contract.
         

 


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