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Can I gift my RRIF to my adult children?



Our response:

There are two key decisions to think about when making withdrawals from your RRIF, the amount to take out, and when. All withdrawals, including the minimum amount are subject to tax.

A RRIF is designed to provide you with steady stream of retirement income and while there is a minimum annual withdrawal (based on your age) there is not a maximum. It may be beneficial to learn what happens to your RRIF when you die including, the taxes on it — which depend on whether or not you name, and who you choose as a beneficiary.

Before taking action understand the implications of all withdrawal scenarios, before and after death. Speak with a registered financial representative or tax professional for advice that fits your financial goals and situation.

Learn more about RRIFs and Living your retirement by visiting

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