RRIF - For when it is time to collect!
Saving all those years makes for a financially secure retirement. Converting your RRSP to a RRIF will allow you to withdraw a portion of your savings each year. Think of it as your very own personalized pension plan. The experts at Nexus Community Credit Union can work with you to minimize the tax you will be required to pay on the withdrawals.
Best of all, your investment can still earn tax free interest while you withdraw periodic payments.