Getting close

When you're getting ready to retire

As you approach this exciting next stage of your life, you may have questions about where you’ll get your retirement income.

A registered retirement income fund (RRIF) turns the accumulated value of a registered savings plan – typically an RRSP – into retirement income.

Depending on your financial situation, RRIFs, LIFs and payout annuities may all play a role in your retirement income planning solutions.

How much money you’ll need for retirement is largely determined by how long you live – something that’s impossible to know with any certainty.