RRIF
Registered Retirement Income Fund

In the calendar year that you turn 69 years of age, you MUST convert your RRSPs into RRIFs. An RRIF is a tax sheltered investment vehicle designed to provide a retirement income after age 69 from funds which you have accumulated in a Registered Retirement Savings Plan. Payments may be received monthly, quarterly, semi-annually or annually.

An RRIF allows you to take control of your investment. An RRIF allows you to select the length of time you wish to lock in your interest rate and while there is a minimum amount required to be withdrawn each year, you can elect to take more if you want or need to.

There are no fees associated with a RRIF. Every dollar put into a RRIF comes back to you, plus interest, and the interest is tax sheltered until you withdraw it.

Your RRIF can be transferred to a surviving spouse on a tax-deferred basis, if directed by a designation of beneficiary or by a will.

Choose from a Variable Rate plan or a Fixed Term plan.

Fixed Term RRIF Features

Variable Term RRIF Features

• Minimum initial deposit of $100
• Rate of interest varies with current rates and is always competitive
• Interest compounded semi-annually (March 31 & September 30)
• Automatic deposits free of charge

All Swan Valley RIF products enjoy no registration or front-end loading fee, no administration fee, no transaction fees, no unloading or withdrawal fee or penalty. RRIF term deposits locked in for period selected, except in case of death, the purchase of an annuity or Registered Income Fund.

All deposits with the Swan Valley Credit Union are fully guaranteed by the Credit Union Deposit Guarantee Corporation.

RATES | DEPOSIT CALCULATOR | DICTIONARY