Section 8 – Retirement Assistance Programs
Registered Retirement Income Fund
The rules governing RRIFs are similar to those of RRSPs, in particular with respect to advantages and eligible and prohibited investments. Revenue accumulates tax-free and withdrawals are fully taxable. The RRIF annuitant must, each year, withdraw a minimum amount determined according to prescribed rates which vary based on the age of the annuitant or his/her spouse.
Request that the minimum amount be determined based on the age of your spouse, if he/she is younger.
This document is up to date as of September 3, 2020 and reflects the status of legislation, including proposed amendments at this date.