Education Centre:

What is a Retirement Income Fund (RIF)?

A Retirement Income Fund (RIF) is a plan that you open after you retire, to start enjoying the savings in your RSP.

• Money in a RIF remains tax-deferred until you withdraw it.
  
  
• When you reach the age of 69, you must convert your remaining RSPs into retirement income by the end of that calendar year.
  
  
• You may also choose to convert RSPs to a RIF any time before then.
  
  
• You must take a minimum payment from your RIF each year, beginning the year after you set up the plan, making additional withdrawals as you choose.
  
  
• Learn more about RIFs at ATB Financial.

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