Account Types

RIF Accounts

Pay yourself in retirement in a tax-advantaged way with a Registered Income Fund.

A self-directed RIF allows you to hold many different types of investments in one account. Receive RIF payments monthly, quarterly, semi-annually or annually by Electronic Funds Transfer to your chequing account. Convert a spousal RSP to a spousal RIF.

Converting your RSP to a RIF

In the first calendar year of a RIF, there is no minimum payment. After the first year, a minimum amount must be withdrawn from the plan each year. If withdrawal occurs during the first year, withholding tax applies.

An RSP must be converted to a RIF in the year you turn 71.

Option trading feature, Put options and Call Options, can be added to a registered account when applying for the account.

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