Living well during your retirement means managing your retirement income wisely. When you terminate your RRSP, the money remains sheltered from tax if you move it to a Retirement Income Option. It's only the money withdrawn each year that is taxed for that year. A Registered Retirement Income Fund (RRIF) is the most flexible RIO. The RRIF is best suited to people who want to make their own decisions regarding their retirement income.

Benefits:

• Funds continue to earn interest while on deposit
• Control over amount of monthly/annual payments
• The balance is available for survivors
• Deposit insurance protection 

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Features:

• Variable and Fixed Rate Plans available with fixed terms from 1 to 5 years
• Secure investment with principal and interest guaranteed