A Registered Retirement Income Fund (RRIF) provides a source of retirement income. It can be set up anytime and withdrawals must start one year after it is opened. CCEC is now offering this service to our members and we want you to better understand them.
There are various retirement investment options and we can provide you with complimentary financial advice and guidance. While you must convert your RRSPs to a RRIF by the end of the year you turn 71, you can transfer your existing RRSP into an RRIF at any time. To open an account, we can help you transfer your RRIF from another financial institution.
A RRIF, like an RRSP, is tax-sheltered for deposits. As you need to withdraw a minimum amount in the calendar year after it was first funded, those members who are thinking of taking an early retirement may want to talk with us about opening an account.
Investing at CCEC means that you keep money working in the community to benefit you, your neighbours and local businesses. CCEC has always been highly localized in how we invest your money since we opened in 1976. Our values have not changed.
We are pleased to offer our members the option to invest in an RRIF.
Call us to learn more.