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No work, all pay


Congrats, you retired! Take advantage of years of hard work and saving when you convert your RRSP to a Registered Retirement Income Fund (RRIF).

Key benefits:

  • Control the amount of income you receive
  • Make withdrawals with no annual limit
  • Feel secure with guaranteed principal and interest
  • Choose from a variety of investment options
  • Transfer your balance to a spouse
  • Convert RRSPs to a RRIF as early as age 55

Key features:

  • Enjoy variable or fixed rate plans
  • Choose fixed terms from 1 to 5 years
  • Flexible income payment schedules
  • Funds are taxable the year you withdraw them
  • Minimum withdrawals required
  • RRSPs automatically convert to a RRIF the end of the year you turn 71
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Retirement income

Know your retirement income options

Live well and enjoy retirement while managing your income wisely. Make the most of your savings by choosing the best retirement income option for you.

  • Understand all your options
  • Get expert advice on RRIFs
  • Make informed decisions about your retirement

Take a look at some numbers


Use this calculator to estimate your withdrawal and payment numbers based on your lifestyle and how long you’ve invested.

These calculators are made available to you as tools for independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy. All examples are hypothetical and are for illustrative purposes only. Please visit your branch to seek personalized advice from qualified professionals for all personal finance issues.

Start saving smarter with these options

RRSP


Save for retirement and save on taxes in the meantime— this option can do it all.


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TFSA


Set money aside and watch it grow throughout your lifetime, tax-free.


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RESP


Start saving for your child’s education with added government benefits.


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Term Deposits


Worry-free investments for long-term funds, and your peace of mind.


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Mutual Funds


Invest collectively in securities, and benefit from the income they generate.


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Responsible Investing Portfolio

Invest in companies with a proven, positive environmental record.


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