A Registered Rertirement Income Fund is a tax deferral plan used once an RRSP has been terminated. It allows for the withdrawal of funds while maintaining protection from tax on the remaining invested amount.
A RRIF can be started at any age, there is no limit to the amount withdrawn each year. However, there is a minimum amount, calculated by the starting age subtracted by age 90.
Activities including but not limited to insurance, insurance planning, financial planning, tax planning, estate planning and tax preparation services may be undertaken by agents of Planmar Financial Corp., but are neither the business nor the responsibility of Planmar Financial Corp. Insurance products will be provided through Planmar Insurance & Tax Services Corp.