bowvalleycu

Just because you stopped working doesn’t mean that your money should.

Once you turn 71, you will be required to mature your RRSPs. One option you have is converting them into a Registered Retirement Income Fund (RRIF), rather than incurring a large tax bill by cashing them out.

A RRIF with BVCU gives you the flexibility to choose investments and payment schedules that meet the Government of Canada's guidelines and still suit your lifestyle. The RRIF keeps your RRSP money tax sheltered until you withdraw the money.

BVCU wants to help you achieve your long-term financial goals.

There are options for managing your RRIFs, from high yield savings accounts to Term Deposits which allows you to keep your investment plan tailored specifically to you. Let us know when it is convenient for you to talk to us so we can take closer look at your investment choices.
A BVCU RRIF savings account has a known rate of return and comes with a 100% guaranteed principal (all principal and interest is 100% guaranteed by the Credit Union Deposit Guarantee Corporation, excluding common shares, investment shares, and mutual funds) that protects your investment against loss
Choose to invest your RRIF in mutual funds* as a simple all-in-one solution when you're looking for growth over the longer term
Fixed-rate Term Deposit investments can also be used for RRIFs
 We can help you make the right investment decisions to help you relax and enjoy your retirement.

Resources

Calculators

Term Deposits

RRIF

Your Path to a Comfortable Retirement

Talk to Us

You may also be interested in