Transfers of RRSPs paid out no less than a calculated minimum amount each year.


A Registered Retirement Income Fund (RRIF) is an arrangement between a carrier (an insurance company, a trust company or a bank) and an annuitant under which payments are made to the annuitant of no less than a calculated minimum amount each year.

The property under a fund is derived only as a result of a transfer of funds from another RRIF, an RRSP or a registered pension plan and annual amounts must commence no later than the year after the plan is set up. Property and earnings in a RRIF are tax-exempt and amounts paid out of a RRIF are taxable on receipt. For further information please contact one of our financial advisors at 613-236-9101.

The 2015 Budget outlines changes to RRIFs, allowing anyone who received a minimum payment in 2015 at the old higher rates to “re-contribute” the difference between the old payment and the new payment and receive a deduction for that re-contribution against their 2015 income. The question is, should you re-contribute?

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Ken Browness

Financial Planner
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