registered retirement income fund

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After decades of growing your retirement savings in your Registered Retirement Savings Plan (RRSP), the government requires you to transfer the full value of your RRSP to a Registered Retirement Income Fund (RRIF) by the end of the year in which you turn 71. ​

Although a RRIF has a minimum annual withdrawal requirement, which is taxable as income, the money you leave inside the plan will continue to be invested and grow tax-free. An advisor can help you plan the amount and timing of withdrawals to minimize your tax bill and maximize your investment returns.

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