RRIF (Registered Retirement Income Fund)

RRIFs - Registered Retirement Income Funds
By the end of the calendar year in which you turn 71, you must either withdraw your RRSPs or convert them into RRIFs. RRIFs are a sytematic withdrawal plan that allows you to take out a minimum payment, a fixed amount or a maximum amount (in the case of locked-in plans).  All of the same options exist as with RRSPs for investment. Just remember you can only deposit RRSPs into a RRIF. Talk to someone at your Credit Union and set up your retirement plan with a KCCU RRIF.

What investments are eligible? – An RRIF can hold a combination of eligible investments, such as mutual funds, stocks, bonds and ETFs *, Guaranteed Investment Certificates (GICs) and cash, providing they were originally transferred in from an eligible RRSP. 

Hard-Working Credit Union RRIFs
Look into the RRIFs available at your Credit Union, and you'll see smart investment options that guarantee a solid return. Choose the RRIFs  that suit you best:

Variable Rate RRIF
This type of RRIF ensures that your investment keeps pace with current interest trends. Interest rates are reviewed and adjusted regularly so that you benefit from the most competitive rate.

Fixed Rate RRIF
A Fixed Rate RRIF provides the security of knowing your rate of return is guaranteed for a fixed period of time. You can choose the term that best fits your plans.

General Terms

  • Variable and 1 - 5 year rates - Click here for our current GIC rates
  • Variable – Paid Dec. 31, minimum daily balance
  • Fixed – Interest compounded annually
  • Minimum deposit of $500 for fixed terms
  • At Kingston Community Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA).

*Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Commissions, trailing commissions, management fees, and expenses may all be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual funds, other securities, and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds and other securities are not guaranteed, their values change frequently and past performance may not be repeated.