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A Registered Retirement Savings Plan (RRSP) is a government approved plan that helps you save money for your retirement. RRSPs are an effective plan that may lower your taxable income while allowing your investment to grow tax sheltered.
*Mutual funds are offered through Credential Asset Management Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual funds investments.
Please read the prospectus before investing. Unless otherwise stated, mutual fund securities and cash balances are not insured nor guaranteed, their values change frequently and past performance may not be repeated.
**Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.
This is a Registered Retirement Income Fund (RRIF), a registered government plan, which can be described as a continuation of your RRSP. At the age of 71, your RRSP may be converted into a RRIF to continue the tax deferral. It will provide a consistent, reliable source of income from your many years of saving and investing, and will have the same tax sheltering of growth. There is one key difference: instead of making tax deductible contributions, you have to a take out a minimum taxable amount each year, based on your age. An RRSP has to be converted to a RRIF no later than December 31 of the year in which you turn 71.