Define retirement on your own terms.
A Registered Retirement Income Fund (RRIF) is a plan that allows your savings to continue growing tax-deferred while generating a steady stream of income during your retirement years. This is important because if your Registered Retirement Savings Plan (RRSP) is not converted to a RRIF, it is considered "deregistered", and the proceeds will be paid out as cash and fully taxed as income.
If you have a pension, we also offer locked-in plans.
When you transfer your RRSP to a RRIF, you may continue to invest in many of the same investments, such as:
The annual fee varies according to the type of investment you choose as does the rate of return.
At Scotiabank, we offer two types of Registered Retirement Income plans to help you plan your retirement future:
Compare various payment options for your RRIF or Locked-In Plan and generate a detailed payment report (or schedule).Use this tool
Help plan for the future by determining your current financial position.Use this tool
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