What are RRIFs?

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17th Dec 2009 by Gary

An RRIF is a retirement plan or fund where you can roll over or convert your RRSP to an RRIF. The purpose is to provide retirees with a consistent income. The Canadian-based plan is only registered by the government of Canada, while not being the carrier. The fund acts like an annunity contract acts in the sense of paying out an ongoing income to the beneficiary. Holders of an RRIF are still allowed to allocate their assets in the manner they choose.

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29th Nov 2009 In Canada 1 Answers | 903 Views
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