Retirement Income (RIF) Non-Redeemable GIC

There are enough risks in life without risking your hard-earned money. Secure and grow your money with a Guaranteed Investment Certificate.

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Details

Overview

Your RRSP matures in the year you turn 71 — what to do with it? Convert your RRSP into a RRIF to avoid a large tax bill and to start enjoying your retirement. Your money still accumulates tax-free until it's withdrawn and you get the safety and security features of a Non-Redeemable GIC. The full amount of your original investment amount (the principal) and the interest you earn are fully guaranteed. And you enjoy flexible terms and interest frequencies. ATB advisors help you make the right decisions about required minimum annual withdrawals, so you won't lose sleep at night.

Pricing

  • Interest earned
  • Term Range
    30 days –5 years.
  • Minimum Balance
    • Your original investment must be a minimum of $500 for terms above 1 year and $1000 for under 1 year.
  • Cashability
    Non-cashable during term of the investment.
  • Investment Plan
    • If you have an RRSP, you must decide what to do with money accumulated in the RRSP by the end of the year in which you turn 71. That's when your RRSP matures.

Additional Information

  • Other features
    • Your RRIF differs from an RRSP in that you will start making annual withdrawals. While there are regulations governing the minimum amount you must withdraw, the actual amount will depend on a variety of factors. ATB advisors help you make the right decisions for you.
    • You can withdraw any amount over the minimum, offering you the flexibility to meet unforeseen expenses or financial emergencies. Amounts withdrawn in excess of the minimum amount will be subject to withholding tax at the same rates applicable to RRSP withdrawals.
    • Just as with your RRSP, you are in control of your investment decisions—the types of investments held within the plan are up to you.
    • Because a RRIF is an investment vehicle that allows for continuing growth, it can provide protection against the erosion of your estate as you draw on the funds in retirement. Unlike an annuity, which provides a fixed benefit, your investments continue to work for you while held in a RRIF account.
    • It offers you flexibility. You can choose a RRIF now and an annuity later if you require other forms of income.

Details

Overview

Your RRSP matures in the year you turn 71 — what to do with it? Convert your RRSP into a RRIF to avoid a large tax bill and to start enjoying your retirement. Your money still accumulates tax-free until it's withdrawn and you get the safety and security features of a Non-Redeemable GIC. The full amount of your original investment amount (the principal) and the interest you earn are fully guaranteed. And you enjoy flexible terms and interest frequencies. ATB advisors help you make the right decisions about required minimum annual withdrawals, so you won't lose sleep at night.

Pricing

  • Interest earned
  • Term Range
    30 days –5 years.
  • Minimum Balance
    • Your original investment must be a minimum of $500 for terms above 1 year and $1000 for under 1 year.
  • Cashability
    Non-cashable during term of the investment.
  • Investment Plan
    • If you have an RRSP, you must decide what to do with money accumulated in the RRSP by the end of the year in which you turn 71. That's when your RRSP matures.

Additional Information

  • Other features
    • Your RRIF differs from an RRSP in that you will start making annual withdrawals. While there are regulations governing the minimum amount you must withdraw, the actual amount will depend on a variety of factors. ATB advisors help you make the right decisions for you.
    • You can withdraw any amount over the minimum, offering you the flexibility to meet unforeseen expenses or financial emergencies. Amounts withdrawn in excess of the minimum amount will be subject to withholding tax at the same rates applicable to RRSP withdrawals.
    • Just as with your RRSP, you are in control of your investment decisions—the types of investments held within the plan are up to you.
    • Because a RRIF is an investment vehicle that allows for continuing growth, it can provide protection against the erosion of your estate as you draw on the funds in retirement. Unlike an annuity, which provides a fixed benefit, your investments continue to work for you while held in a RRIF account.
    • It offers you flexibility. You can choose a RRIF now and an annuity later if you require other forms of income.

Important Information

Request More Information


  • Adding this item to cart will notify us to connect you with the right expertise
  • You can also call us at
    1 800 332 8383

You May Also Like