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Registered retirement income fund (RRIF)

Convert all or part of your RRSPs into retirement income with a registered retirement income fund (RRIF).

If you're a Desjardins member, book an appointment on AccèsD to open your RRIF.

What is a RRIF?

A registered retirement income fund (RRIF) is like an extension of your registered retirement savings plan (RRSP). By transferring your RRSP investments to a RRIF, you can continue growing your money and enjoy a stable, flexible source of retirement income. If you don't convert your RRSP to a RRIF by the year you turn 71, the money in your RRSP is added to your taxable income. 

Benefits of a RRIF

Grow investments tax-free

You can continue growing your RRSP returns tax-free in your RRIF until you withdraw them.

Make flexible withdrawals

You can withdraw any amount from your RRIF each year, as long as you take out the minimum based on your age.

Simplify withdrawals

You can convert the funds from different RRSPs into 1 RRIF to easily keep track of your withdrawals.

How does a RRIF work?


You have money to transfer over, usually in an RRSP

Minimum RRIF withdrawal

Starting the year after you open your RRIF, you must withdraw at least the minimum required amount each year. You can use your age or the age of your spouse or common-law partner to determine this amount. You can always withdraw more money if needed, but never less than the minimum.

Minimum RRIF withdrawal rate by age

Based on your age at the beginning of the year, you must withdraw a certain percentage from your RRIF:

  • Age 71: 5.28%
  • Age 72: 5.40%
  • Age 73: 5.53%
  • Age 74: 5.67%
  • Age 75: 5.82%
  • Age 76: 5.98%
  • Age 77: 6.17%
  • Age 78: 6.36%
  • Age 79: 6.58%
  • Age 80: 6.82%
  • Age 81: 7.08%
  • Age 82: 7.38%
  • Age 83: 7.71%
  • Age 84: 8.08%
  • Age 85: 8.51%
  • Age 86: 8.99%
  • Age 87: 9.55%
  • Age 88: 10.21%
  • Age 89: 10.99%
  • Age 90: 11.92%
  • Age 91: 13.06%
  • Age 92: 14.49%
  • Age 93: 16.34%
  • Age 94: 18.79%
  • Age 95 and over: 20.00%

For example, if you have $100,000 in your RRIF, the minimum withdrawal is:

  • $5,400 if you're 72, or 5.40%
  • $7,380 if you're 82, or 7.38%

These minimum RRIF withdrawal percentages are calculated using prescribed factors. For more information about minimum RRIF withdrawal calculations, see the prescribed factors chart External link. on the Government of Canada website. You'll also see how to calculate the minimum RRIF withdrawal amount if you're under 71.

RRIF withdrawal tax

Withdrawals from your RRIF are added to your taxable income, and any withdrawals over the minimum amount are subject to a withholding tax.

If your spouse or common-law partner is younger than you, you can use their age instead for calculating the minimum withdrawal amount. This way, you might be able to withdraw a lower amount and reduce your taxable income.

Good to know

If you don't need your full RRIF income, you can invest some of it in a TFSA if you have contribution room.

You could also help a child or children in your life save for school by contributing to an RESP in their name, such as your grandchildren.

How to convert an RRSP to a RRIF

1. Contact your advisor

Your advisor will discuss your retirement savings with you and help you open a RRIF. You must convert your RRSP to a RRIF by the year you turn 71.

If you're not a Desjardins member, schedule a call to book an appointment.

2. Choose your investments

We'll help you choose the right investments for your RRIF according to your goals and investor profile.

3. Plan your withdrawals

We'll also help you create a withdrawal plan for you to save on taxes and still achieve your goals.

Investment options for a RRIF

Find out which investments you can hold in your RRIF.

Personalized Annuity Term Savings

Enjoy high, steady income from interest and capital payouts. Both your capital and interest are guaranteed.

Learn more about Personalized Annuity Term Savings.

Regular Savings Account

Save for short-term goals with no minimum deposit required.

Learn more about Regular Savings Accounts.

Guaranteed fixed-rate investments (term savings)

Enjoy a known return on your investment from day one. Both your capital and interest are guaranteed.

Learn more about Guaranteed fixed-rate investments (term savings)

Market-linked guaranteed investments

Harness the growth potential of stocks without risking your capital.

Learn more about Market-linked guaranteed investments.

Desjardins Funds

Invest in innovative and competitive fund portfolios tailored to your profile. 1

Learn more about Desjardins Funds.

Guaranteed Investment Funds Helios2 Contract 

Earn interest while protecting your estate and your savings.

Learn more about Guaranteed Investment Funds Helios2 Contract.

Switch to online brokerage

Want to explore online brokerage to invest on your own? Whatever your level of investment knowledge, we offer everything you need to make informed decisions and invest with confidence: 

  • No-fee online transactions for stocks and exchange-traded funds (ETFs)
  • State-of-the-art trading platforms
  • Comprehensive training
  • Powerful analysis tools

Respon­sible invest­ment pays off

Commit to a sustainable and equitable economy by investing in businesses that value the environment, the community and diversity. With our socially responsible investments, you benefit from good potential returns while taking action for the future.


Do I have to convert my RRSP to a RRIF by age 71?

Yes, you must transfer your RRSP funds to a RRIF or use them to buy an annuity by the year you turn 71. Otherwise, the total amount in your RRSP will be added to your taxable income.

Can I contribute to my RRIF?

No, you can't contribute to a RRIF. You can only transfer money to it from eligible plans such as an RRSP, VRSP, PRPP, FHSA, or another RRIF. Once you open a RRIF and transfer money to it, you can only make withdrawals.

When can I start making withdrawals from my RRIF?

You can open a RRIF at any age, whenever you want retirement income. As long as there are funds in your RRIF, you must withdraw the minimum amount each year.

Contact your advisor to come up with the best withdrawal strategy for you, based on all your retirement income sources.

What happens to my RRIF in the event of death?

Generally, upon death, the money in your RRIF is added to your other income to report for that year.

If your spouse or common-law partner inherits your full RRIF, they can transfer the funds tax-free to their RRIF, or their RRSP if they're under 71. If your spouse or common-law partner only gets part of your RRIF, the full amount is added to your reported income on your tax return for the year of death, but the amount they receive gets subtracted from it.

If a financially dependent child inherits your RRIF, they may be eligible to transfer the money to an RRSP, RRIF or RDSP or use it to buy an annuity. The child's eligibility is determined at the time of death.

Book an appointment to open your RRIF

On AccèsD

Book an appointment on AccèsD if you're a member, and meet with an advisor online, in person or over the phone.

Explore other useful savings plans for retirement


A life income fund (LIF) lets you transfer your money in a LIRA or LRSP for your retirement income.
Learn more about LIF


A locked-in retirement account (LIRA) lets you earn interest tax-free on your funds from your former employer’s pension plan.
Learn more about LIRA


An individual pension plan (IPP) offers guaranteed retirement income and higher contributions for employees of a company who are also shareholders.
Learn more about IPP
Desjardins Funds are not guaranteed, their value fluctuates frequently, and their past performance is not indicative of their future returns. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Desjardins Funds are offered by registered dealers.