Registered Retirement Income Funds (RRIFs)

RRIFs are created when RRSPs mature - at age 71 under current legislation. RRIFs provide for an annual income that is determined by a schedule as set out in the Income Tax Act. The income distributed from RRIFs is taxable; however, the remainder of the capital continues to be tax sheltered until such time that it is withdrawn in later years. Eligible investments that can be held inside a RRIF are mostly the same as an RRSP, namely GICs, Segregated Funds, GMWBs and Mutual Funds, amongst others.