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RRIFs are a systematic 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).
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.
Look into the RRIFs available at your Credit Union, and you’ll see smart investment options that guarantee a solid return.
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.
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.
*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.
At Kingston Community Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through FSRA.
A third party is an individual or entity, other than the account holder or those authorized to give instructions about the account, who directs what happens with the account. For example, if an account were opened in one individual’s name for deposits that are directed by someone else, the other person or entity would be a third party.