Retirement Income

Your advisor is there to help

The importance of effectively planning how to use your retirement income cannot be overstated. Which option should you turn to first - your registered plans or your personal non-registered savings? Should you convert your RRSP before or after the age of 71? What is the best way to benefit from a TFSA? What is the best way to maximize your investments and increase capital longevity? How can you spread out your withdrawals? Sit down with your advisor for the answers to all of your questions. You’ll obtain a customized strategy that takes your personal circumstances, fiscal situation and potential unexpected events into account.

Annuity or Registered Retirement Income Fund (RRIF)

The law requires that you cash in your RRSP by the last day of the calendar year you turn 71. At this time, you may choose to invest your assets in an annuity or in an RRIF.


You sign a contract with a financial institution, which provides guaranteed regular income payments.

Annuities are calculated at the rate of interest applicable at the time of purchase: the higher the rate, the more appealing the annuity.

An indexation mechanism may apply (maximum of 4% per year).

You are free of management responsibilities.


This option puts you in control of your capital; you decide how to allocate your assets and where to invest.

You can therefore leverage market volatility.

It is up to you whether to make a lump sum withdrawal or a series of regular withdrawals.

The Life Income Fund offers the same features.

Fixed Monthly Income

Certain products, such as investment funds and portfolios, are designed specifically to give retirees a fixed monthly income. When held in a non-registered account, these investments include a tax relief mechanism that reduces the tax payable on withdrawals. Your advisor is your best resource for learning how this process works.