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Registered Retirement Income Fund (RRIF)
Assets are converted from RRSPs to provide steady retirement income, subject to mandatory annual minimum withdrawal amounts.
Wealth management products and services offered by:
Registered Retirement Income Fund (RRIF)
Assets are converted from RRSPs to provide steady retirement income, subject to mandatory annual minimum withdrawal amounts.
Wealth management products and services offered by:
Registered Retirement Income Fund (RRIF)
Assets are converted from RRSPs to provide steady retirement income, subject to mandatory annual minimum withdrawal amounts.
Wealth management products and services offered by:
A RRIF is a retirement vehicle designed for a steady stream of income
Tax-Deferred Growth
All investment income earned within the account—including capital gains and dividends—remains tax-deferred until withdrawal, allowing your retirement wealth to continue compounding.
Withdrawal Flexibility
You can access your funds above the mandatory minimums at any time. However, any amount withdrawn is taxable and cannot be added back to your room.
Diverse Objectives
Whether you are managing retirement lifestyle costs or estate planning, the RRIF provides structured payments to ensure your savings last throughout your senior years.
A RRIF is a retirement vehicle designed for a steady stream of income
Tax-Deferred Growth
All investment income earned within the account—including capital gains and dividends—remains tax-deferred until withdrawal, allowing your retirement wealth to continue compounding.
Withdrawal Flexibility
You can access your funds above the mandatory minimums at any time. However, any amount withdrawn is taxable and cannot be added back to your room.
Diverse Objectives
Whether you are managing retirement lifestyle costs or estate planning, the RRIF provides structured payments to ensure your savings last throughout your senior years.
A RRIF is a retirement vehicle designed for a steady stream of income
Tax-Deferred Growth
All investment income earned within the account—including capital gains and dividends—remains tax-deferred until withdrawal, allowing your retirement wealth to continue compounding.
Withdrawal Flexibility
You can access your funds above the mandatory minimums at any time. However, any amount withdrawn is taxable and cannot be added back to your room.
Diverse Objectives
Whether you are managing retirement lifestyle costs or estate planning, the RRIF provides structured payments to ensure your savings last throughout your senior years.
Understanding the RRIF Account
Who could open a RRIF?
The RRIF is ideal for retirees seeking to convert their RRSP savings into a regular income stream while maintaining control over investments and benefiting from continued tax-sheltered growth.
Maximum Cumulative Limit
This is the total value of assets transferred from a maturing RRSP, PRPP, or RPP. Unlike other plans, you cannot make new contributions once the account is established.
Annual Limit
There is no annual contribution limit; instead, there is a mandatory minimum withdrawal amount starting the year after opening.
Carry-Forward
Since you cannot contribute, there is no room to carry forward. Minimum withdrawal amounts not taken cannot be deferred to future years.
71+ Eligibility
You must convert your RRSP to a RRIF or annuity by the end of the year you turn 71.
Understanding the RRIF Account
Who could open a RRIF?
The RRIF is ideal for retirees seeking to convert their RRSP savings into a regular income stream while maintaining control over investments and benefiting from continued tax-sheltered growth.
Maximum Cumulative Limit
This is the total value of assets transferred from a maturing RRSP, PRPP, or RPP. Unlike other plans, you cannot make new contributions once the account is established.
Annual Limit
There is no annual contribution limit; instead, there is a mandatory minimum withdrawal amount starting the year after opening.
Carry-Forward
Since you cannot contribute, there is no room to carry forward. Minimum withdrawal amounts not taken cannot be deferred to future years.
71+ Eligibility
You must convert your RRSP to a RRIF or annuity by the end of the year you turn 71.
Understanding the RRIF Account
Who could open a RRIF?
The RRIF is ideal for retirees seeking to convert their RRSP savings into a regular income stream while maintaining control over investments and benefiting from continued tax-sheltered growth.
Maximum Cumulative Limit
This is the total value of assets transferred from a maturing RRSP, PRPP, or RPP. Unlike other plans, you cannot make new contributions once the account is established.
Annual Limit
There is no annual contribution limit; instead, there is a mandatory minimum withdrawal amount starting the year after opening.
Carry-Forward
Since you cannot contribute, there is no room to carry forward. Minimum withdrawal amounts not taken cannot be deferred to future years.
71+ Eligibility
You must convert your RRSP to a RRIF or annuity by the end of the year you turn 71.
Comparing the difference between a RRIF and an RRSP
Feature
RRIF
RRSP
Feature
RRIF
RRSP
Main Purpose
Retirement income
Retirement savings
Main Purpose
Retirement income
Retirement savings
Tax on Deposits
N/A (transfers only)
Tax-deductible (reduces your taxes)
Tax on Deposits
N/A (transfers only)
Tax-deductible (reduces your taxes)
Tax on Growth
Tax-deferred
Tax-deferred until withdrawal
Tax on Growth
Tax-deferred
Tax-deferred until withdrawal
Tax on Withdrawals
Taxed as regular income
Taxed as regular income
Tax on Withdrawals
Taxed as regular income
Taxed as regular income
Withdrawal Rule
Mandatory minimums apply
Flexible until age 71
Withdrawal Rule
Mandatory minimums apply
Flexible until age 71
Age Limit
Must start by age 72
Must close/convert by age 71
Age Limit
Must start by age 72
Must close/convert by age 71
Investment fund and portfolio management services are provided through Corex Financial Inc.
Align your savings with your values
Start investing the halal way—anytime, anywhere. Access your portfolio, track performance, and build your wealth with confidence.
Investment fund and portfolio management services are provided through Corex Financial Inc.
Align your savings with your values
Start investing the halal way—anytime, anywhere. Access your portfolio, track performance, and build your wealth with confidence.
Investment fund and portfolio management services are provided through Corex Financial Inc.
Align your savings with your values
Start investing the halal way—anytime, anywhere. Access your portfolio, track performance, and build your wealth with confidence.
Investment fund and portfolio management services are provided through Corex Financial Inc.
Even more ways to grow your wealth
Disclaimer
Corex Financial Inc. ("Corex") offers wealth management products and services to Manzil customers. Corex Financial Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Ontario, British Columbia, Alberta, Newfoundland and Labrador, and Quebec. Assets in your Corex accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). All trademarks are the property of their respective owners. Corex will determine what investments are suitable for you.
This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
Your capital is at risk with any type of investment. The value of your portfolio can increase or decrease. Past performance is no guarantee of future results. An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
Investment fund and portfolio management services are provided through Corex Financial Inc.*
Disclaimer
Corex Financial Inc. ("Corex") offers wealth management products and services to Manzil customers. Corex Financial Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Ontario, British Columbia, Alberta, Newfoundland and Labrador, and Quebec. Assets in your Corex accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). All trademarks are the property of their respective owners. Corex will determine what investments are suitable for you.
This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
Your capital is at risk with any type of investment. The value of your portfolio can increase or decrease. Past performance is no guarantee of future results. An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
Investment fund and portfolio management services are provided through Corex Financial Inc.*
Disclaimer
Corex Financial Inc. ("Corex") offers wealth management products and services to Manzil customers. Corex Financial Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Ontario, British Columbia, Alberta, Newfoundland and Labrador, and Quebec. Assets in your Corex accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). All trademarks are the property of their respective owners. Corex will determine what investments are suitable for you.
This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
Your capital is at risk with any type of investment. The value of your portfolio can increase or decrease. Past performance is no guarantee of future results. An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
Investment fund and portfolio management services are provided through Corex Financial Inc.*