Income You Need With Minimum Taxes

Your Credit Union wants to help you save money and pay less tax every step of the way. When you turn 71 years of age, transferring your funds to a Credit Union RRIF lets you spread out the payments and taxes over a number of years, so you save more money! 

Your deposits are safe and secure with unlimited insurance coverage provided by the Deposit Insurance Corporation of Ontario for each RRIF contract.

Your Credit Union makes transferring your RRSP funds to a RRIF as easy as it can be, whether it's at the Credit Union or at another financial institution.

To get started, talk to your Member Service Officer at your branch or contact us to make an appointment.


  • A government approved plan that provides a systematic payout of your RRSP funds
  • Save money! Avoid a large, one-time tax bill by transferring funds from your RRSP into a RRIF
  • You're in control! Make partial withdrawals at any time
  • Tax credits! RRIF income qualifies for the $1,000 Pension Income Tax Credit
  • Minimize income tax! While there is an annual mandatory minimum you must withdraw, it's up to you how and when you want to receive this amount
  • Take advantage of the age difference! If your spouse is younger, payout of the plan can be based on his or her age rather than yours. That way, you can minimize your RRIF withdrawals and the tax you pay
  • Earn more! Your RRIF investment continues to work for you and earn interest at current rates
  • All funds remaining in your RRIF at the time of your death, including accrued interest, are payable to your beneficiaries or estate

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