Now that you’re getting ready to retire, you want to feel comfortable that you’ll enjoy the lifestyle for which you’ve so carefully planned. The end of the year in which you turn 71, you must, by Canadian law, terminate all of your RRSPs. However, withdrawing them as cash in most cases creates an unnecessary tax liability.

With an RRIF (Registered Retirement Income Fund), your money remains tax sheltered, except for the portion that you withdraw every year. Revenue Canada requires that you receive at least a minimum payment from your RRIF each year, but beyond that, it can be completely customized to meet your personal and financial requirements. The amount and the frequency of payments can be changed from time to time, as your needs change and evolve.

You can be assured your money is safe and secure in a Moya Financial RRIF, which offers :

  • Fixed and variable rate plans
  • No fees for deposits, payouts or administrative costs
  • Income provided monthly, quarterly, semi-annually or annually
  • Payment deposited to any account

As with RRSPs, we also offer mutual fund and stock investing with our RRIFs. These are not fixed rates, but open to greater risk and subsequently greater reward. You can invest your RRIFs in a wide variety of stocks, bonds & mutual funds*, by speaking with one of our qualified representatives.

For more information, please contact:
Jak Slavec
Senior Wealth Services and Mutual Funds Representative
Moya Financial Credit Union Limited / Qtrade Asset Management Inc.
E: Jak.Slavec@moyafinancial.ca
T: (416) 252-6527 ext. 212


Mutual funds are offered through Qtrade Asset Management Inc., Member MFDA.