Registered Retirement Income Fund

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 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). 

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 $500.00 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.

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.

Learn more about deposit insurance here

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.

  • A secondary piece of identification from the primary list above
  • Canadian Birth Certificate
  • Credit Card bearing the name and signature of the individual which has issued by a well-known and reputable Canadian financial institution
  • A CNIB (Canadian Institute for the Blind) client card bearing the individual’s photo and signature
  • Provincial Outdoors Card
  • Canadian University or College Student Card with photo (for student identification only)
  • An employee identification card (with photo) issued by an employer that is well known in the community (i.e. KGH, DND, Queens University, Corrections Canada, etc.)
  • Foreign passport
  • Canadian Passport
  • Permanent resident card
  • Citizenship card (issued prior to 2012)
  • Secure Certificate of Indian Status issued by the Government of Canada
  • Driver’s licenses issued by province or territory
  • The DND (Department of National Defense) 404 driver’s license
  • Nexus Card issued by Canada Border Services Agency
  • Provincial Service Cards
  • Provincial or territorial identity cards (i.e. Ontario Photo Identification Card)
  • Foreign Passport (only if it is equivalent to a Canadian issued photo identification document)