Deferred Profit Sharing Plan
Deferred Profit Sharing Plan (DPSP) assets must be converted to cash, used to purchase an annuity, used to purchase a Registered Retirement Income Fund (RRIF), or transferred to an RRSP by the end of the year in which you turn age 71.
A simple outline of your DPSP investment options. Table Start
Life annuity
|
Allowed at any time.
|
Annuity certain
|
Allowed at any time.
|
Registered retirement income fund (RRIF)
|
Pending legislation would allow at any time.
|
Life income fund (LIF)
|
Not an option.
|
Locked-in retirement income fund (LRIF)
|
Not an option.
|
Prescribed RRIF
(PRRIF)
|
Not an option.
| Table End
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