RRIF - Registered Retirement Income Fund
Author:
Kevin Slater
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A registered investment account created from funds transferred from an RRSP. These provide income in retirement through government regulated minimum annual withdrawals.
- A RRIF is a retirement income vehicle.
- Funded by RRSP proceeds that must be transferred to a RRIF by the end of the year you turn 71.
- A RRIF account can provide you an income monthly or annually.
- There is RRIF minimum amount you must withdrawal each year based on your age, but no maximum amount restrictions.
- A variety of investment options are available for your RRIF account.
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