Registered Retirement Income Funds

Once you’ve retired and need additional income, getting the money from your RRSP is easy. All you do is ask us to roll over your RRSP to a Registered Retirement Income Fund (RRIF). You can transfer RRIF's held at other financial institutions or amounts from a Registered Pension Plan directly to an HMECU RRIF.

RRIF's are similar to a RRSP with the exception that you must take some taxable payments from your RRIF on an annual basis. You choose the payment level as long as it meets the minimum levels set out by the government.  Interest earned inside the RRIF stays tax free until its withdrawn.

HMECU has a number of investment options available to be held within a RRIF. You can also transfer RRIF's held at other financial institutions directly to your HMECU RRIF.

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