Why invest in a Registered Retirement Income Fund (RRIF)?
The RRIF lets you transfer the funds in your RRSP or spousal RRSP tax-free so that you can access your retirement income.
A savings vehicle you can use to:
Make the most of your retirement savings with a RRIF
The logical next step after the RRSP, the RRIF lets you take full advantage of your retirement savings.
Start accessing your retirement income
The RRSP is designed for savings, but the RRIF lets you access retirement income from the money you have saved in your RRSP or spousal RRSP. In other words, the RRIF is a disbursement vehicle.
If you're almost 71 years old
The legal deadline for holding an RRSP or spousal RRSP is December 31 of the year you turn 71. From a fiscal perspective, the RRIF is a wise choice if you want to enjoy the money you've saved over the years, since it allows you to withdraw your money over time.
Your RRIF: 4 decisions to make
When converting your RRSP to a RRIF, you'll be asked to choose among a variety of withdrawal options.
1 Withdrawal amounts
You must withdraw a minimum percentage of the total value of your savings each year, based on your age. It ranges from 5.28% (age 71) to 18.79% (age 94). As of your 95th birthday, you must withdraw 20%. That being said, you can always withdraw more than the minimum amount to finance a passion project, for instance.
2 Your spouse's age
Since the mandatory minimum withdrawal amount is based on age, you can request that the calculation be based on the age of the younger spouse (if you're married or in a civil union or common-law relationship). However, you should keep in mind that this decision can't be changed later.
3 Tax deductions
You can choose to pay tax on each withdrawal, or pay taxes once a year when you file your tax return. If you withdraw more than the minimum amount, a withholding tax rate of 20% to 30% will apply.
4 Withdrawal frequency
You have two options for withdrawing your money: annually or monthly (i.e., 12 withdrawals over the course of a year).
RRIF calculator: How much to withdraw each year?
Use our tool to better plan your retirement income.
Estimate my RRIF withdrawals
FlexiFonds mutual fund advisors are here to help
FlexiFonds mutual fund advisors are just a phone call away. They're ready to answer your questions and can help you find the best solution to meet your needs. They can also help you determine your investor profile and guide you through the decisions you'll need to make when opening your RRIF.
Offering service you can trust, FlexiFonds mutual fund advisors put their expertise and skill at your disposal, with zero pressure and zero commissions. Their only goal is to help your dreams become reality by offering you sound, objective advice.
Call us at 1-833-383-2121
Get to know our advisors70% of FlexiFonds mutual fund assets are related to the local economy
Investing with FlexiFonds is a great way to keep your savings local.
Flexible products to help you make the most of your retirement
Comprising one of our three mutual funds, the RIFF with FlexiFonds allows you to reduce the risk related to your investments through its asset allocation. It's a great way to enjoy some retirement income while your savings continue to grow.
FlexiFonds Conservative
You prioritize income stability over long-term appreciation of your savings?
FlexiFonds Growth
Looking for long-term savings growth and, to a lesser extent, income?
Most frequently asked questions
FlexiFonds
Can I transfer my savings to FlexiFonds from another financial institution?
Yes. You can transfer a TFSA or RRSP to FlexiFonds by phone or directly online. To transfer a RRIF, you will need to call us.
More Details
: Can I transfer my savings to FlexiFonds from another financial institution?
FlexiFonds
What are the withdrawal rules for units registered in the RRIF with FlexiFonds?
There are no withdrawal conditions for FlexiFonds products. However, you must start to withdraw money from your RRIF the year after you opened it.
More Details
: What are the withdrawal rules for units registered in the RRIF with FlexiFonds?
RRIF
When should I send a request to open a RRIF account?
Generally, there is no minimum age requirement to open an RRIF account. However, it is beneficial to open such an account when your income and income taxes payable have decreased.
More Details
: When should I send a request to open a RRIF account?
RRIF
I'm almost 71. What should I do with my RRSP?
Since the year you turn 71 is the legal deadline for holding an RRSP, you have decisions to make. We want to be there for you during this new chapter in your life. Follow our guide to learn more about the options available to you.
More Details
: I'm almost 71. What should I do with my RRSP?
FlexiFonds
Can I enroll in FlexiFonds products only online?
Online enrollment is simple, quick and secure. That said, FlexiFonds mutual fund advisors would be pleased to assist you by phone if needed.
More Details
: Can I enroll in FlexiFonds products only online?
FlexiFonds
What is the role of a mutual fund advisor?
Mutual fund advisors hold the mutual fund dealing representative designation. Their role is to analyze the financial position of savers to offer them mutual funds that are tailored to their needs and their investor profile.
More Details
: What is the role of a mutual fund advisor?
Ready to start a new chapter in your retirement savings?
Talk to a Flexifonds mutual fund advisor
Monday to Thursday, from 9 a.m. to 8 p.m., and Fridays from 9 a.m. to 5 p.m.
1-833-383-2121
-
Information
All the information and data provided on this website are for information purposes only; they are not intended to provide advice or recommendations of a financial, legal, accounting or tax nature with respect to investments. Although they are deemed reliable, no representation or warranty, express or implied, is made as to the accuracy, quality or completeness of this information and data. The opinions expressed should not be construed as a solicitation or offer to purchase or sell the units referred to herein and should not be viewed as a recommendation. We recommend you consult your advisor.FlexiFonds de solidarité FTQ Inc.
The units of the FlexiFonds funds are distributed solely in Québec by FlexiFonds de solidarité FTQ inc., a mutual fund dealer wholly owned by the Fonds de solidarité FTQ. FlexiFonds de solidarité FTQ inc. does not distribute the units of any other mutual funds. Management fees and other expenses may be associated with mutual fund investments. Please consult your advisor and read the prospectus and the fund facts documents before making an investment. The FlexiFonds funds are not guaranteed, their values change frequently, and past performance may not be repeated.Trademarks
FlexiFonds, FlexiFonds Conservative, FlexiFonds Balanced and FlexiFonds Growth and the other trademarks displayed on this site are registered trademarks of the Fonds de solidarité FTQ. Other companies' trademarks are used with permission or under license. All rights reserved. Trademark references on this site should not be construed as an implied authorization to use such trademarks.Access and site availability
The website is the property of Fonds de solidarité FTQ. By using the website, you agree to the following terms of use. You acknowledge and agree that the Fonds de solidarité FTQ may restrict, suspend or revoke your access to or use of all or part of the site, including links to third party sites, at any time, with or without cause, in its absolute discretion, without notice or liability. The Fonds de solidarité FTQ does not guarantee that this site will be available and meet your requirements or that access to this site will be uninterrupted. Availability downtime may occur at any time, without notice, including downtime required for maintenance or technical reasons.