Use your savings to fund your retirement income

A Registered Retirement Income Fund (RRIF) turns your retirement savings into a monthly income payment. Interest earnings on your RRIF aren’t taxable, but payouts are considered normal income and annual taxes have to be paid on those.

Non-redeemable

This RRIF is offered to members on terms between one to five years in length.

What you need to know: 

  • $1,000 minimum investment

  • Access to funds at maturity only

  • Interest is compounded annually and is paid in full at maturity (or upon redemption). Automatic reinvestment at current rate1

  • Earn tax sheltered, compound interest at a guaranteed rate

  • Provides flexibility for you to choose a term length that meets your needs

Rates 

Long term

  • ​1 year → 3.65% ​

  • ​2 year → 3.85% ​

  • ​3 year → 3.85% ​

  • ​4 year → 3.85% ​

  • ​5 year → 3.85%

3 year convertible

  • ​3 year → 3.75%

Fees 

  • Transfer out: $100  

  • Duplicate T4 RRIF: $15  

  • Lump sum withdrawal (per withdrawal): $25  

  • Inactive account fee: $25

Redeemable

This RRIF is offered on a one-year term with a $1,000 minimum investment. 

What you need to know 

  • Interest paid on maturity (or upon redemption)

  • Automatic reinvestment at current rate1

  • Provides the option of cashability prior to maturity

  • Potential to earn a higher interest rate than a savings account

Rates 

  • ​1 year → 3.35%

Fees 

  • Transfer out: $100  

  • Duplicate T4 RRIF: $15  

  • Lump sum withdrawal (per withdrawal): $25  

  • Inactive account fee: $25

Savings

This RRIF requires no minimum investment and can be cashed out at any time. 

What you need to know 

  • Redeemable, registered

  • Fully or partially cashable at any time

  • RRIF payments can be received weekly, biweekly, semi-monthly, monthly, quarterly, semi-annually or annually2

  • Interest is calculated on the daily closing balance3 and is paid semi-annually on June 30 and December 31 to the investment

Rates 

  • ​Variable Rate → 1.50%

Fees 

  • Transfer out: $100  

  • Duplicate T4 RRIF: $15  

  • Lump sum withdrawal (per withdrawal): $25  

  • Inactive account fee: $25

  1. Unless other instructions provided prior to maturity. 

  2. Payments can be made biweekly, monthly, quarterly, semi-annually or annually. 

  3. Payments must be made to a Conexus deposit account. Interest on the variable RRIF is based on a floating rate.