What is RRIF (Registered Retirement Income Fund)?
A RRIF is a Canadian account that RRSP savings can be moved into to provide retirement income. Investments can keep growing inside it, but a minimum amount must be paid out each year, and payments are taxed as income.
Why RRIF (Registered Retirement Income Fund) matters
Moving an RRSP into a RRIF is one of the three options when the RRSP has to end, alongside withdrawing it all or buying an annuity.