SSQ- RRIF/ What is it?

The Registered Retirement Income Fund (RRIF) is the easiest way to convert partial or total RRSP funds into a regular retirement income.
All amounts deposited in a RRIF remain tax-sheltered, and you pay only tax on the retirement income you withdraw annually.

When can I purchase an RRIF?

You can purchase it at any time, but at the latest on December 31 of the year in which you turn 71.

How can I withdraw amounts invested in an RRIF?

You have three options:

  • Minimum RRIF: you withdraw the minimum income permitted by legislation.
  • Leveled RRIF: the amount of the annuity is determined by the number of years over which you wish to spread your income. At the end of this period, the RRIF is exhausted.
  • Fixed Amount RRIF: you determine the annuity according to the desired amount until the RRIF has been exhausted.

Manulife RetirementPlus™

Catch up with your retirement goals and enjoy income for life

The first retirement management solution of its kind, Manulife RetirementPlus is an innovative, flexible segregated fund product that can support you through the key phases of your retirement preparation. It can help you realize your retirement goals, so you can be better prepared to face retirement.

Manulife RetirementPlus provides:

Growth potential

  • A wide range of investment funds to suit your investment style, with up to 100% equity
  • The ability to catch up financially towards achieving your retirement goals
  • The opportunity to benefit from potentially rising interest rates

Flexibility and control

  • Choose the amount of income, with either a partial or full income stream
  • You can access your market value if the need arises (fees may apply)

Guaranteed lifetime income

  • Optional guaranteed, lifetime income when the time is right for you

 How do you know if Manulife RetirementPlus may be the right choice?

  • If you are five or more years away from retirement
  • If you seek flexibility in your retirement plan
  • If you want lifetime, guaranteed retirement income
  • If you are willing to assume some of the associated risk of market uncertainty in exchange for greater income potential
  • If you need to catch up financially towards your retirement goals

The key phases of retirement preparation with Manulife RetirementPlus

 The Savings Phase helps grow savings and enhance future income potential

  • Choose from a broad selection of industry leading investment funds to help build savings, with up to 100% equity
  • Income Credits accumulate to help you catch up financially and allow you to take advantage of potentially rising interest rates
  • Access to your market value is available at any time should you need it (fees may apply)
  • Competitive fees allow your portfolio to maximize growth potential

 The Preservation Phase determines future guaranteed income

  • When you’re ready, you may secure Income Rates that will determine your future guaranteed income
  • Choose the amount of income, with either a partial or a full income stream
  • Increase your future guaranteed income by delaying income payments

 The Income Phase provides flexible income to help support your retirement lifestyle

  • Choose when to begin receiving guaranteed lifetime retirement income
  • The ability to continue making deposits and earning Income Credits in the Savings Phase while taking income, so your future income can continue to grow