What are the withdrawal rules for units registered in the RRIF with FlexiFonds products?

There are no withdrawal conditions for FlexiFonds products. However, you must start to withdraw money from your RRIF the year after you opened it.

Each year, the federal government determines the minimum amount that you must withdraw from your RRIF. Many factors can impact this amount, such as the total value of your savings, your age or your spouse's age. Amounts withdrawn are taxable, but the savings that remain in your RRIF continue to benefit from a tax deferral, as is the case with an RRSP.

To determine the best strategy to adopt, mutual fund advisors are there to guide you, step by step, toward a solution that is tailored to your needs.

Learn more about the RRIF with FlexiFonds

How to avoid paying too much tax? Here's a tip!

To avoid paying too much tax, wait until your income decreases for a full tax year before cashing in a large amount of money. Your savings will therefore grow for a longer period on a tax-deferred basis.

Give us a call, and let's talk about your plan!

1-833-383-2121

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