outlook-financial-logo outlook-financial-logo
Service status
Sign in
Search

Convert your RRSP to RRIF

Learn how to convert your RRSP into a RRIF so you can begin receiving retirement income.

2026_Outlook_HubSpot_PWS_RRSP-RRIF-Assets_Simple-Header-890x440

A Registered Retirement Income Fund (RRIF) with Outlook Financial allows you to start generating retirement income from your RRSP.  

Under Canadian regulations, you must convert your RRSP into a RRIF (or another retirement income option) by December 31 of the year in which you turn 71. 

2026_Outlook_HubSpot_PWS_RRSP-RRIF-Asset_GC-Txt-IMG-680x420

Convert your RRSP to a RRIF

Existing Outlook Financial members can convert an RRSP held at Outlook or transfer an RRSP or RRIF from another financial institution.

Convert an Outlook RRSP to a RRIF

If you already hold an RRSP with Outlook Financial, you can convert it directly into a RRIF to begin receiving retirement income.

Steps:

  • Complete the RRIF Application Form.
  • Complete the RRIF Payment Instructions Form to set your withdrawal schedule.

Transfer an RRSP or RRIF from another institution

If your RRSP or RRIF is held at another financial institution, you can transfer those funds to Outlook Financial and open your RRIF here.

Steps:

  • Complete the RRIF Application Form.
  • Complete the Direct Transfer‑In Form.
  • Complete the RRIF Payment Instructions Form.

A better Outlook for transferring your registered plans

Transfers between registered plans are not considered taxable events as long as they are completed directly between institutions. 

Transfers between registered plans are not considered taxable events as long as they are completed directly between institutions. 

 RRIF forms

Complete the RRIF application form

RRIF application Form opens in a new tab

Complete the Direct transfer‑in form

Direct Transfer‑In Form opens in a new tab

Complete the RRIF payment instructions form

RRIF Payment Instructions Form opens in a new tab
Important notes 
  • The minimum RRIF opening balance is $2,000. 
  • To assign a beneficiary or successor annuitant, complete the appropriate Designation of Beneficiary or Successor Annuitant Form. 
  • Your RRIF plan will be opened within 2 business days of us receiving your completed application. 
  • Ensure your RRIF Payment Instructions Form accurately reflects the amount and frequency of withdrawals you want. Changes can be made at any time using the RRIF Payment Instructions Form. 

Investing your RRIF funds  

Once your RRIF account is opened, you can choose to invest your funds in a Fixed GIC. Before you begin, log in to Online Banking to confirm that your RRIF account is active. When you’re ready to provide your investment instructions, use the online Deposit Form.

Complete the online Deposit Form
New to Outlook Financial?

Your registered plan transfer starts here.

To convert an RRSP or RRIF from another financial institution, you’ll first need to open an Outlook Financial membership. This includes opening a High‑Interest Savings Account (HISA), which allows us to set up your RRIF and process your transfers.

Complete your online application
2026_Outlook_HubSpot_PWS_RRSP-RRIF-Asset_Lrg-Txt-400x400-2 2026_Outlook_HubSpot_PWS_RRSP-RRIF-Asset_Lrg-Txt-400x400-1

Steps for new members:

Once your Outlook Financial membership is opened:

  1. Complete the RRIF Application Form.

  2. Complete the Direct Transfer‑In Form to move your RRSP or RRIF to Outlook Financial.

  3. Complete the RRIF Payment Instructions Form to set your withdrawal schedule.

Your outlook grows with knowledge 

Find helpful tools that make banking simpler. From calculators to service fees, our resources help you learn, plan and manage your money at your own pace.

View tools and resources