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What is involved in converting an RRSP to a RRIF?



Our response:

Thanks for your question Bonnie.

You open a Registered Retirement Income Fund (RRIF):

  • By transferring money from your Registered Retirement Savings Plan (RRSP).
  • Anytime, but no later than the end of the year you turn 71.
  • At banks and trust companies, credit unions and caisses populaires, insurance companies, mutual fund companies and investment firms.

A registered financial advisor can help you with the steps involved in this process.

Learn more about RRIFs. You may also be interested in reading about getting retirement income from your RRSP.

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