The RRIF option What is a RRIF? A Registered Retirement Income Fund (RRIF) is a registered plan that can be purchased with registered funds from a non locked-in source. A RRIF allows its annuitant to continue investing in registered funds on a tax-sheltered basis while paying a retirement income as long as money continues to be available from the plan. A RRIF can be tailored to meet individual retirement income needs as it allows a choice of payment amount (subject to an annual legislated minimum withdrawal amount). Each year, beginning the year after you open a RRIF, you must begin receiving the minimum amount of income as determined by Canada Revenue Agency (CRA). This minimum depends on the value of the RRIF at the beginning of the year and on your age. Unlike a Life Income Fund (LIF) or Locked-in Retirement Income Fund (LRIF), there is no legislated annual maximum withdrawal amount applied to a RRIF. Any payments received from a RRIF are taxable and must be included as income the year they are received. Although you cannot make contributions to a RRIF, you can transfer registered money into a RRIF at any time provided it comes from a source that is not locked-in. For more details about RRIFs, see the Retirement Income Options. This option might be right for you if your retirement goals are… Maintaining control over investments - you want to continue to manage your 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.