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REQUEST A ONE-TIME EXTRA RRIF PAYMENT WITHDRAWAL

Your RRIF provides income while sheltering your remaining RRIF savings from taxes until they are withdrawn. You are required to withdraw a minimum amount from your RRIF every year, but you can withdraw more if you would like more income.

Funds withdrawn over and above the required minimum annual payment from a RRIF will be charged withholding taxes. This amount must be held back by Outlook Financial and remitted to the government on your behalf.

To request a one-time extra RRIF payment

Important Notes:

  • If a RRIF GIC balance falls below the $1,000 minimum those remaining funds will be deposited to your RRIF savings account.
  • Your withdrawal request will be completed within 1 business day of receipt. Log in to online banking to verify your withdrawal.

For more information, visit the Government of Canada's website page, Registered Retirement Income Fund (RRIF).

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Rates effective
Jan 7, 2020

  • 2.40% Savings
  • 2.35% 1 Year Term
  • 2.65% 5 Year Term
View all rates