FAQ Category: RRIF

Can I access my money if it’s in a term investment?

Yes—even if your RRIF funds are in a term deposit, you can still make withdrawals, including your required annual payment.

Can I keep adding money to my RRIF?

No—you cannot contribute directly to a RRIF. However, you can transfer funds into it from an RRSP, another RRIF, or certain pension plans.

How often do I need to withdraw money from a RRIF?

There is a minimum amount you’re required to withdraw each year, but you can take out more whenever you need to.

Do I have control over how my money is managed?

Yes—you can choose how your RRIF is invested, with options like variable rate savings or fixed-term investments, giving you flexibility in how your money works for you.

How does a RRIF provide income in retirement?

A RRIF lets you receive regular payments to help cover your everyday expenses, while your remaining savings continue to earn interest.

What is a RRIF and how does it work?

A RRIF (Registered Retirement Income Fund) helps turn your retirement savings into income. It allows you to receive payments from your RRSP or pension over time, instead of taking it all at once.