Products & Rates

Registered Retirement Income Funds (RRIFs)

A Registered Retirement Income Fund (RRIF) helps you manage your money after retirement. It lets you make withdrawals anytime, while the rest of your balance remains tax-sheltered and continues to grow.

RRIF BASICS: WHAT YOU NEED TO KNOW

  • Consolidate your RRSP accounts when you’re ready to start using your money and convert to a RRIF.
  • Open your RRIF anytime before the end of the year you turn 71.
  • Make your first withdrawal by December 31st of the year you turn 72.
  • Withdraw as much as you need from your RRIF annually (there’s a yearly minimum that must be taken).
  • Like an RRSP, RRIF income is completely tax sheltered inside your RRIF account, but all withdrawals are taxable.
  • Your RRIF payment is automatically taken out of your lowest interest-bearing RRIF account and transferred into your Outlook High-Interest Savings Account.

Note: If your spouse or common-law partner is younger than you are, you can make your RRIF last longer by basing your withdrawals on your spouse’s age rather than yours. If you choose this option, you’ll need to register this information when you first open your RRIF account.

Open a RRIF Plan | Purchase another RRIF GIC | Transfer in an existing RRIF

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Rates effective
Jan 7, 2020

  • 2.40% Savings
  • 2.35% 1 Year Term
  • 2.40% 2 Year Term
  • 2.45% 3 Year Term
  • 2.50% 4 Year Term
  • 2.65% 5 Year Term
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Our deposits are 100% guaranteed

All your Outlook Financial deposits and interest are 100% guaranteed without limit, no matter where you live. Read more…