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| Protect your savings and your future |
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If you're like most Canadians, you've probably included Registered Retirement Savings Plan (RRSP) as part of your investment strategy. However, did you know that RRSPs have a limited shelf life? They must either be cashed in, or converted into an annuity or Registered Retirement Income Fund (RRIF) before the end of the year in which you reach age 69.
A Registered Retirement Income Fund is simply a continuation of your RRSP. Your funds remain tax sheltered, and you continue to choose how your funds are invested. But instead of putting money into a RRSP, the RRIF is designed to pay money out as income for you to live on.
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| The fixed rate RRIF is a great option for investors nearing the age of 69 who want the security of a fixed interest rate and the ability to choose the term. With flexible terms ranging 1 to 5 years, a fixed rate RRIF provides you with maximum control you're your investment as well as enhanced flexibility to adjust the amount of payments you will receive. |
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