Choosing an income stream
RRIFs offer flexibility in the stream of income you choose to receive.
You may opt for a level stream of payments or you may opt for only the minimum, with scheduled larger lump sum payments to meet specific needs such as travel or a special purchase. You may also elect to have your income increase on a regular basis to combat inflation. The RRIF advantage is that, within limits, your retirement income can be tailored to meet your needs.
Minimum RRIF payments
This graph illustrates an initial investment of $100,000 and assumes an annual rate of return of eight per cent over the RRIF payment period. The minimum payment schedule preserves capital by providing increasing payments each year until age 94. At that point, 20 per cent of the capital must be taken as income each year.
Indexed RRIF income payments
This graph illustrates an initial $100,000 investment, assumes an annual investment return of eight per cent over the RRIF payment period and increases the annual payment by four per cent per year. You can take a higher income than the minimum in the early years, and although the fund will be exhausted earlier, your income stream can still be designed to increase over time.
Fluctuating RRIF income payments
This graph illustrates how large payments may be taken every few years using an initial investment of $100,000 and assumes an annual investment return of eight per cent over the RRIF payment period. You have the flexibility to adjust the payments to your lifestyle needs, as long as the minimum is taken each year.
Access your account
Find information about your group retirement, savings and income account.