RRIFs

Registered Retirement Income Funds

North Peace Savings offers Registered Retirement Income Funds (RRIFs) with a variety of investment choices.

A RRIF is similar to a Registered Retirement Savings Plan (RRSP), with the exception that you must take some taxable payments from the RRIF. North Peace Savings offers fixed-rate and variable-rate RRIF plans to provide maximum flexibility for your retirement income options. The choice of investment type is up to each member and members can mix and match their investments to best suit their needs.

The Canada Income Tax Act requires an individual who owns an RRSP to mature the plan by the end of the year in which the plan holder turns 71. The plan holder then has the option of using the funds to purchase a life annuity, rolling the funds into a RRIF, or receiving a lump-sum payment from the RRSP.

The RRIF is the most popular option for RRSP savings to provide income during retirement. A RRIF offers complete income flexibility, while allowing your savings to remain tax sheltered and under your personal control.

Connect with a Friendly Wealth Management Specialist!

We will work with you to create a personalized Retirement Plan that will be your roadmap to financial security and freedom when you retire.

Contact North Peace Financial Planning Services Ltd. and let one of our Financial Advisors help you put together your retirement plan today! Call 1-877-787-0365 or complete the referral form and we will contact you directly.
 
Member Retirement Services - Knowing Your Your Retirement Income Options

Member Financial Fitness - Planning For Your Retirement