RRSP: For predictable savings
The secure investment allows you to protect a portion of your savings from market fluctuations. When you hold it in a registered retirement savings plan (RRSP), it gives you greater predictability when planning for retirement.
RRIF: To stabilize retirement income
The secure investment is also designed to meet your cash flow needs in retirement, making it ideal for a registered retirement income fund (RRIF).
A portion of the investment can be withdrawn annually in keeping with the rules regarding mandatory minimum withdrawals from your RRIF.
Did you know?
It is possible to hold a secure investment in a spousal RRSP or a spousal RRIF.