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The Seguin team is always looking out for our best interests. They are motivated in earning the...

Jim & Heather Scott

7150 Hawthorne Dr. Unit 104
Windsor, ON, N8T 3N3

Phone: (519) 974-6688
Toll Free: +1 866-973-4846
Fax: (519) 974-7192

What is a RRIF?

A RRIF can be described as a continuation of your RRSP. It provides the same tax sheltering of growth but with one key difference. Instead of making tax deductible contributions, you have to take out a minimum taxable amount each year, based on your age. An RRSP has to be converted to a RRIF no later than December 31 of the year you turn age 69. No minimum withdrawal is required for the first year of RRIF. The first withdrawal is required by December 31 of the second year.

  • RRSP must be converted to a RRIF by age 71.
  • Growth is tax sheltered.
  • Contributions are not allowed
  • A minimum amount must be withdrawn each year.
  • Withdrawals are fully taxable.
  • No minimum withdrawal required in the first year.

Mutual funds are offered through Manulife Securities Investment Services Inc. Insurance products and services are offered through Seguin Financial Group Ltd. Seguin Financial Group is a trade name used for both mutual fund & Insurance business activities. Banking products and services are offered through referral.