• Funds for a RRIF can come from your RRSP, a commutable annuity, a Registered Pension Plan, a Deferred Profit Sharing Plan, or another RRIF with a minimum $5,000 balance required to open the plan.
• You can transfer your RRSP funds to a RRIF at any age.
• Plan holder makes the investment decisions for the RRIF.
• Funds in a RRIF remain tax sheltered until received.
• No set up or annual maintenance fees.
• Flexible payment options - monthly quarterly, semi-annual or annual payments available with no fee.*
• One free unscheduled withdrawal per year.** Subsequent unscheduled withdrawals are subject to a fee as outlined in the TCU Accounts and Fees Guide.
• There is a required annual minimum amount, based on age and balance, that must be withdrawn each year, except in the year of set up.
• Changes to scheduled payments permitted once per year. ***
• Free online viewing capabilities and annual statement available.
• Current investment rates can be found here.

RRIFs are available in the following forms:

• Variable Rate Deposits
• Cashable Term Deposits
• Non-redeemable Term Deposits
• Progressive Term Deposits

• *Payments must be set up for the 15th or 28th day of the month
• **Funds must not be locked in to make an unscheduled withdrawal (in a variable rate deposit or cashable term deposit).
• ***Changes must be requested by April 30th
• Transfer out requests are subject to a transaction fee as outlined in the TCU Accounts and Fees Guide unless transferred to TCU Wealth Management
• Your deposits are fully guaranteed by Credit Union Deposit Guarantee Corporation
• Valid Social Insurance Number (SIN) is required to open a RRIF
• All automatic payments must be made to an account held at TCU
• TCU offers various types of locked in RRIFs to handle your pension funds