Registered Retirement 
Income Funds (RRIFs)1



When it’s time to enjoy the savings you’ve been growing for years

What’s your idea of a great retirement? Whiling away all winter on a sunny beach? Pursuing a new hobby or passion? Spending more time with family? A RRIF from Scotia iTRADE can help fund the retirement you’ve always wanted.

A RRIF is a tax-deferred retirement plan that can be used to convert all or some of your RRSP by the end of the year in which you turn 71. This will ensure that your money continues growing tax-deferred while providing you income during your retirement years.

It’s your retirement. Make the most of it

When the time comes to convert your RRSP to a RRIF, you’ll find Scotia iTRADE provides a range of options to meet your financial needs.

  • Scotia iTRADE self-directed RRIF is a registered trading account that allows you to control the way your income is paid. You can continue to invest in equities, Exchange Traded Funds (ETFs), mutual funds, bonds, Guaranteed Investment Certificates (GICs) and cash.
  • Scotia iTRADE LIF (Life Income Fund) is a registered trading account that allows you to relocate your employer-created or group pension, so you can keep trading and growing your money.
  • Scotia iTRADE LRIF (Locked-in Retirement Income Fund) is a tax-sheltered account used to pay out the accumulated value of a locked-in RRSP, locked-in retirement account (LIRA) or locked-in amounts under a registered pension plan (RPP).
  • NEW! Scotia iTRADE RRIFs, LIFs and LRIFs are now available with a U.S. dollar side – ideal if you wish to trade and hold U.S. dollar securities and cash in your registered accounts.

RRIFs at a glance

  • Your investment income is tax-sheltered
  • Amounts withdrawn are added to your taxable income
  • An annual minimum payment (AMP) must be taken each year starting the year immediately following the year in which the RRIF is set up. The AMP’s value is determined by law, considering your age, account balance, and a percentage factor provided by the Canada Revenue Agency (CRA)
  • You only pay tax on the amount you withdraw, not on the total value of your RRIF. However, the total value of the RRIF may be taxed after death
  • Withdrawals above the annual minimum payment are subject to a withholding tax at rates prescribed by the CRA


But what happens if you don’t convert your RRSP to a RRIF or annuity when you turn 71? Your plan will be considered "deregistered", and all of your savings will be paid out as cash, fully taxed as income. Ensure you protect the investment you’ve taken so long to build and continue to see it grow.

For more information


We can help you with your RRIF account 
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