The PRIF option What is a PRIF? Available only in Saskatchewan, a Prescribed Retirement Income Fund (PRIF) is a registered plan intended for locked-in money. It allows its annuitant to continue maintaining investments on a tax-sheltered basis. A PRIF allows you to choose a payment amount, subject to an annual legislated minimum amount, but is not subject to a legislated maximum amount. Each year (beginning the year after you open a PRIF), you must begin receiving a minimum amount of income as determined by Canada Revenue Agency (CRA). This minimum depends on the value of the PRIF at the beginning of the year and the annuitant's age. Any payments received from a PRIF are taxable and must be included in income in the year they are received. Although you cannot make contributions to a PRIF, you can transfer money in at any time from a Registered Pension Plan or RRSP (provided in comes from a locked-in source in Saskatchewan). For more details about PRIFs, see the Retirement Income Options. This option might be right for you if you have locked-in money under Saskatchewan Pension Rules and your retirement goals are … Maintaining control over investments - you want to continue to manage investments. Flexible income payments - you want the flexibility to control payment details, including payment frequency, amount and withholding tax details. Convenience - you want the convenience of regular income payments, but also want the flexibility to make additional lump sum withdrawals. Liquidity – you want the flexibility to withdraw any amount each year and liquidate your plan at any time.