RRIF Rates effective August 27, 2010:
| 1 Year |
2 Years |
3 Years |
4 Years |
5 Years |
| 1.55% |
2.02% |
2.40% |
2.75% |
3.11% |
*Please note: minimum amounts vary*
Registered Retirement Income Funds (RRIFs) are tax-sheltered plans for registered savings that provide regular income payments.
Funds for a RRIF investment must come directly from the participants RRSP. At age 71 Revenue Canada obligates all Canadian residents with RRSP's to transfer these funds to a RRIF or pay the tax consequences.
Once an individual has opened a RRIF, he or she must withdraw a annual minimum payment from their RRIF which is taxable. Individuals may choose to withdraw more than the minimum and make withdrawals on monthly or quarterly dates.
Guaranteed Investment Certificates (GIC)
Registered Deposit Brokers Association (RDBA)
Canada Deposit Insurance Corporation (CDIC)
Deposit Insurance Corporation of Ontario (DICO)
Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) |
