What is a RRIF?
The RRIF is an extension of the registered retirement savings plan (RRSP). It allows you to make the best use of the savings you have accumulated throughout your working life: you periodically withdraw a portion of your savings and continue to accumulate tax-sheltered income.
You are required by law to withdraw a minimum annual amount from your RRIF. Over and above that amount, all periodic and lump sum withdrawals are taxable at source.
