A RRIF is an investment plan available for the conversion of RRSP funds into retirement income, while still continuing the deferral of taxes until the funds are withdrawn. A RRIF can be started at any time, but must be established no later than the end of the year in which you reach your 71st birthday.

The year after you open a RRIF, you are required to take a minimum payment amount as determined by Federal Regulation. The minimum is established at the beginning of each year. If you wish, you may also withdraw additional funds. All funds withdrawn are reported as income and are taxable in the year of withdrawal.

For convenience, RRIF payments are deposited directly to your account.

A RRIF is a smart alternative because it gives you the flexibility to adjust your income annually. You can choose any payment level you want, you can change your payments from year to year and you are able to buy as many RRIF's as you want. It's your decision about what type of investment you want. Various options are available, including variable rate savings and fixed term deposits.

Flexible Product Options Expand/Collapse

Stride Credit Union has various RRIF investment options available and regular RRIF payments may be made monthly, quarterly, semi-annually or annually. $5,000.00 is the initial minimum deposit required.

Flexible RRIF options include:

  • Variable-Rate RRIF – Your interest rate varies with changing marketplace.
  • Fixed-Term RRIF – Earn a fixed rate of interest for the time period you select.
The flexibility a RRIF offers makes it the ideal vehicle to meet a wide variety of your income requirements.


Invest in a RRIF

If you're interested in an RRIF and would like to know if it's the right option for you, simply meet with a Financial Advisor by clicking the button below and filling out our online form, or call or visit our Main Branch.