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Retirement Income Fund (RIF)

Maximize Your Retirement With The Right Options

Retirement is finally here. You’ve planned, saved, and you’ve worked hard for it. And now there are some decisions to be made on how you manage your retirement savings. And there are a lot of options.


We want you to reap the maximum benefits possible from your accumulated savings. You can convert your RSP to one of several options, and you must terminate it by no later than December 31 of the year you turn 71.


When you decide to convert your Retirement Savings Plan (RSP) into Registered Retirement Income Funds (RIF), you'll start drawing on your retirement income. A RIF provides you with a regular stream of income, subject to a minimum annual withdrawal amount. Any interest you earn on your RIF will continue to grow, tax-sheltered, until it's withdrawn as income.


Talk to our knowledgeable and experienced team about your RIF options. We’ll make a plan together that lets you access the savings you need to have a great retirement, while letting your wealth grow tax free and delivering the maximum return.


Retirement Income Fund

Non-Redeemable: 5 year Term Deposit


Non-Redeemable: 4-5 year Term Deposit


Non-Redeemable: 3-4 year Term Deposit


Non-Redeemable: 2-3 year Term Deposit


Non-Redeemable: 1-2 year Term Deposit


Non-Redeemable: Step-Up 18+18 Effective Rate


Non-Redeemable: Step-Up 9+9 Effective Rate


Redeemable: Step-Up 6+6 Effective Rate


Variable Rate Plan




  • 1 - 3 year terms
  • $500 minimum investment required
  • Redeemable and non-redeemable options
  • Earn Higher Rates for the second half of your term with an escalating interest rate
  • 20% Classic withdrawal option*
  • Interest paid annually


Term Deposit RIF

  • 1 - 5 year non-redeemable term options available with $500 minimum investment required
  • >1 year non-redeemable term options available with $2,000 minimum investment required
  • Interest calculated daily and compounded annually

Variable RIF

  • Interest calculated daily and paid semi-annually
  • Interest rate determined by market

The Legal Stuff:

*Rates effective as of 11 March 2020. Terms and conditions apply. All principal and interest is 100% guaranteed by the Credit Union Deposit Guarantee Corporation, excluding common shares, investment shares, and mutual funds. All rates and products are subject to change without notice. Rates subject to change daily. Step-Up™ products are RSP/RIF/TFSA eligible. Step-Up™ 20% Classic withdrawal provides you with the flexibility to cash (redeem), without penalty, up to 20% of the original principal investment, on term deposits from 12 to 60 months, once each year.  The advice on our website is prepared without knowing your personal objectives, financial situation or needs. Before you act on this or any advice, please consider if it's right for you, and reach out to our teams to help determine if the product is appropriate for you. Legal Terms of Use apply.