Enjoying my retirement (RRIF)

Convert your RRSP into a RRIF

If you are retired and have not yet turned 71, you can continue to contribute to the Fonds RRSP. However, you must terminate your RRSP in the year you turn 71

A good option is to convert the RRSP to a RRIF. Withdrawals from a RRIF are taxed only in the year in which they are made. Even in retirement, it’s important to investment your money wisely.

What is a RRIF?

A Registered Retirement Income Fund (RRIF) is an extension of an RRSP. It is a flexible vehicle that allows you to make periodic withdrawals based on your needs and to continue growing your capital tax free

Advantages of a RRIF:

  • Flexible income
  • Withdrawals can be made at any time
  • Freedom to choose investments
  • Can be combined with an annuity 

The funds in a RRIF can be invested in various savings and investment vehicles with no restrictions. SÉCURIFONDS offers a variety of products to ensure your RRIF portfolio is diversified and in keeping with your investor profile. 

Contact us to convert your RRSP to a RRIF today!

Tips on how to get the most out of your RRSP and RRIF

You saved wisely during your working years. Now that you’re retired, you must apply the same shrewdness when cashing out your investments. Here are three pitfalls to avoid: 

Underestimating the tax consequences 

Any withdrawal from an RRSP or a RRIF is considered income. The best time to cash out your investments is when your tax rate is lowest, for instance, withdraw money from your RRSP a short while after retiring, in a year where your income is lower. 

Making a withdrawal from your RRSP or RRIF when you need the money 

Anticipate big expenses and withdraw the money in small amounts ahead of time. Withdrawing one large sum will result in an unnecessarily big tax bite. 

Taking less risk 

Retirees often opt for a safe strategy, building a portfolio of bonds and guaranteed investment certificates. But at 65, you still have 20 years or more to live, on average, perhaps even more if you’re a woman. Portfolio diversification is therefore as important as ever. 

Your SÉCURIFONDS advisor can answer all your questions, in the comfort of your home, with no obligation on your part.

Plans available for retirees

  • Registered Retirement Savings Plan (RRSP) 
  • Registered Retirement Income Fund (RRIF) 
  • Non-Registered Savings Plan (NRSP) 
  • Tax-Free Savings Account (TFSA) 
  • Locked-In Retirement Account (LIRA) 
  • Life Income Fund (LIF) 

SÉCURIFONDS offers safe products with a capital guarantee.

Please read the prospectus before investing. Copies of the prospectus may be obtained on its Website, from a local representative or at the offices of the Fonds de solidarité FTQ. The shares of the Fonds de solidarité FTQ are not guaranteed, their value changes and past performance may not be repeated.

To find out more, contact a SÉCURIFONDS advisor today

  • Call us at

    1 855 732-8743

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