Retirement Income Fund

A regular income from my RSP?

Simply switch to a Retirement Income Fund (RIF) available at League Savings and Mortgage.

Looking for more information about RIF Transfers?

Contact us for more information about RIF transfers.

  • A RIF is designed to provide you with a regular income, subject to a legislated annual minimum amount.
  • You are only taxed on the amount you receive each year.
  • The plan is flexible: you decide on the amount of income you wish to receive and the investment terms of your funds.
  • The balance of your RIF continues to be tax-sheltered.
  • Attractive investment terms from I to 5 years are available.
  • Minimum plan value of $5000 to establish a LSM RIF.
  • In the event of plan holder’s death, any balance in a RIF goes to their spouse, beneficiary, or estate.

At League Savings and Mortgage, our qualified staff will be pleased to discuss any aspect of your retirement options and explain our RIF features and options in more detail. Contact us for more information.

How do I get started with RIF’s?

RIF Options

Variable Rate RIF Plan

Minimum deposit $100

Equivalent to a savings account, with the ability to lock into a term at any time. A good choice if you may require use of your funds soon, or are not comfortable locking-in for a fixed term.

One Year Redeemable RIF Plan

Minimum deposit $500

A one year deposit, redeemable after 30 days without penalty. Your principal and interest are guaranteed making this an ideal product to reach your short-term goals.

Fixed Rate RIF Plan

Minimum deposit $500

Similar to a GIC. You choose a fixed term of 1 to 5 years and the interest rate is guaranteed for that term. An excellent choice if your goal is maximum growth of your retirement fund!

League Savings and Mortgage Company is a member of Canada Deposit Insurance Corporation (CDIC)

Our residential mortgage tax accounts are CDIC covered through a 3rd party provider