A RRIF is a Canadian government-approved registered plan that allows you continue deferring taxes on funds from pensions and RRSPs. You have until the end of the same calendar year you turn 71 to decide how you will convert your Registered Retirement Savings Plans (RRSPs) into retirement income.

One way to move your RRSP into retirement income includes switching your RRSPs to a RRIF. 

A RRIF provides:

  • A retirement income for you or your spouse
  • A way to shelter your retirement savings for as long as possible
  • The flexibility to withdraw more than the Canada Revenue Agency’s required minimum if you need the funds
  • Control over how your money is invested

With TMECU, you can decide to invest in term deposits for your RRIF.  This way, you can have a steady stream of income while being invested in a no risk investment. 


Our RRIF solutions

Term Deposits (GICs)Earn a set interest rate over a specific time frame.
RRIF Saving AccountBuild your funds in this account while you decide on other investment products. 

Contact your branch  for more information.


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