Prairie Centre RRIFs
The Canada Income Tax Act requires an individual who owns an RRSP to mature the plan by the end of the year in which the beneficiary turns 71. The plan holder then has the option of using the funds to purchase a life annuity, rolling the funds into a RRIF, or receiving a lump-sum payment from the RRSP.
A RRIF offers 100% income flexibility, while allowing your savings to remain tax sheltered and under your personal control. For more information and options, contact your Prairie Centre branch today.