e–Caisse Login

FAQs

Open AllClose All

  • A Registered Retirement Income Fund (RRIF) is a fund registered with the Canada Revenue Agency (CRA) that ensures that you have income throughout your retirement years by allocating regular payments to you.
  • Minimum payments must be paid to you starting in the year after the RRIF is set up. You can choose how often you receive these payments (monthly, quarterly, semi-annually or annually).
  • Income earned in a RRIF is not taxable so long as it stays in the RRIF, allowing you to continue to grow your retirement savings tax free.
  • You cannot contribute directly to a RRIF. You can only transfer funds from your RRSP to a RRIF.
  • All funds in a RRSP must be transferred to a RRIF by the end of the year in which you turn 71 years of age (or the funds must be withdrawn from the RRSP in its entirety).
  • You can transfer funds from a RRSP to a RRIF at any age before the established deadline however minimum payments must be paid to you starting in the year after the RRIF is established.
  • All funds in a RRSP must be transferred to a RRIF by the end of the year in which you turn 71 years of age (or the funds must be withdrawn from the RRSP in its entirety).
  • You can invest in a RRIF via a savings account which is flexible, simple and there are no fees. Deposits can be made anytime into the account and you can transfer your funds to another RRIF investment option at any time.
  • You can invest in a RRIF via a GIC which is a secure way to grow your retirement savings as the interest rate is fixed.
  • You can invest in a RRIF via a mutual fund through our partner, Credential Asset Management, with varying degrees of risk and return according to your preferences.
  • The return on a RRIF depends on the type of investment that you selected.
  • If the RRIF is a savings account or a Guaranteed Investment Certificate (GIC), the return is paid in the form of interest. The interest is not taxable for as long as you leave the interest in the RRIF; the interest is taxable when you withdraw it.
  • If the RRIF is a mutual fund or other type of investment, you would need to confirm in what form the return will be received (ex. interest, dividends or other).
  • Interest is “compounded” when you earn interest on your interest.
  • If the interest earned is left in your RRIF, the interest rate is applied to the original deposit as well as to the amount of interest earned, therefore you would be earning interest on interest.
  • Compound interest can make a big difference in the amount of return that you earn over time.
  • Click on “Open Account” above and complete the online form or contact any of our branch locations to open a RRIF.