What is a Registered Retirement Income Fund (RRIF)?

A Registered Retirement Income Fund (RRIF) converts your Registered Retirement Savings Plan (RRSP) into retirement income.

How does it work?

  • Convert your RRSP to RRIF at anytime (Deadline: December 31 of the year you turn 71)
  • Choose how you will invest your money once you withdraw it
  • You must withdraw the minimum annual amount set by the government, but there is no set maximum amount
  • Anything you withdraw is taxable as employment income

What is the difference between a registered retirement income fund (RRIF) and a lifetime income fund (LIF)?


  • Converts your RRSP into retirement income
  • Has minimum annual withdrawal amounts
  • Does not have maximum annual withdrawal amounts


  • Converts your pension plan into retirement income
  • Has both minimum and maximum withdrawal amounts

Learn more about RRIFs.