RRIFs

The Covid-19 pandemic has emphasized the importance of budgeting in retirement. Ensuring your needs are met and budgeting for your wants will help with a less stressful retirement.

In times of low investment rates, monthly income funds must be considered with both mutual fund or life annuities.

New RRIF minimum withdrawal rules were introduced on March 25, 2020 in response to the COVID-19 pandemic. If you don't need the regular RRIF minimum, it's usually beneficial to reduce your annual RRIF minimum withdrawal amount.