- A RRIF is the next step after RRSP
- You can only contribute to a RRIF by transferring funds from a RRSP.
- The funds in your RRSP must be transferred to a RRIF by the end of the year in which you turn 71 years old (or the funds in the RRSP must be withdrawn in full).
- Income earned is not taxable so long as it stays in the RRIF.
- You must receive minimum payments every year from your RRIF.
- Payments from a RRIF are taxable upon receipt.
- To view the updated RRIF Declaration of Trust, please click here.
