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Registered Retirement Income Fund (RRIF)

Manage your retirement income while your savings continue to grow tax-deferred.

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With an Outlook Financial Registered Retirement Income Fund (RRIF), you can access funds when you need them and take control of your retirement income planning, while the remainder of your savings stays invested and grows, tax-deferred.

A RRIF provides a reliable way to turn your retirement savings into steady income, giving you flexibility in how much you withdraw, while keeping the rest of your money invested and growing for the years ahead.

Why open a Registered Retirement Income Fund?

  • Seamless RRSP conversion: Easily transition your RRSP savings into retirement income.
  • Flexible withdrawals: Take out more than your annual minimum whenever you need extra funds.
  • Tax‑deferred growth: Funds left in your RRIF continue to grow tax‑deferred.
  • Automatic payments: Your RRIF payment is withdrawn from your lowest interest‑bearing RRIF account and deposited into your HISA.

RRIF gives you the flexibility to draw income at your own pace while keeping your remaining savings invested, protected and working for your long‑term retirement needs. 

Benefits of an Outlook Financial's RRIF

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Choice and control

Whether you prefer the steady returns of fixed-term GICs or the variable growth and accessibility of a high-interest savings RRIF, Outlook Financial gives you flexible options that support your retirement income needs.

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High-earning potential

Take advantage of leading rates to help your savings grow with confidence. Competitive RRIF GIC rates and high-interest variable savings options help you continue earning tax-deferred income throughout retirement.

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Protection you can trust

Every dollar you invest—plus the interest you earn—is 100% guaranteed by the Deposit Guarantee Corporation of Manitoba.

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Banking made simple

Monitor and manage your registered retirement income fund anytime with our safe, digital banking tools.

RRIF rules

  • You can open your RRIF anytime before the end of the year you turn 71.
  • You’re required to make your first withdrawal by December 31 of the year you turn 72.
  • You can’t make contributions to your RRIF, but you can transfer assets from your RRSP.
  • You must withdraw a minimum amount from your RRIF each year, based on your or your spouse/common‑law partner’s age and the value of your plan. These minimum percentages follow the CRA’s RRIF withdrawal schedule and increase gradually as you age.
  • RRIF annual minimum withdrawals are considered taxable income.
  • Any withdrawals over and above your minimum amount are subject to withholding tax .
  • Our minimum RRIF plan opening balance is $2,000.

How do I open a Registered Retirement Income Fund?

New to Outlook Financial?

To start saving and investing with a Registered Retirement Income Fund, you’ll first need an Outlook Financial membership. Your membership begins with a High-Interest Savings Account (HISA), which acts as the foundation for transferring funds and holding your registered or investment products. Once your HISA is open, you can open a RRIF by completing the RRIF Application Form and submitting it to Outlook Financial to convert eligible RRSP funds into retirement income. 

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For existing members

If you're an Outlook Financial member, opening a RRIF is simple!

1. Complete the RRIF Application Form (your account will be opened within 2 business days).

2. Once open, contribute to your RRSP savings account or purchase an RRIF GIC using our online Deposit Form. 

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For existing members

If you're an Outlook Financial member, opening a RRIF is simple!

1. Complete the RRIF Application Form (your account will be opened within 2 business days).

2. Once open, contribute to your RRSP savings account or purchase an RRIF GIC using our online Deposit Form.

Helpful Resources for Your RRIF

Manage your retirement income confidently with tools and resources designed to help you plan withdrawals, track growth, and make the most of your RRIF. Use the links below to access key information and forms that simplify managing your funds.

Find out how to transfer in your RRIF

Transfer an Existing RRIF

Buy a Guaranteed Investment Certificate

Invest in a RRIF GIC

Manage your beneficiary and successors

Update your RRIF beneficiary and successors annuitant

Manage your RRIF payments

Add or change your RRIF payment instructions