Registered Retirement Income Fund

In the calendar year that you turn 71 years of age, you MUST convert your RRSPs into RRIFs. An RRIF is a tax sheltered investment vehicle designed to provide a retirement income after age 71 from funds which you have accumulated in a Registered Retirement Savings Plan. Payments may be received monthly, quarterly, semi-annually or annually.

A RRIF allows you to take control of your investment. A RRIF allows you to select the length of time you wish to lock in your interest rate and while there is a minimum amount required to be withdrawn each year, you can elect to take more if you want or need to.

There are no fees associated with a RRIF. Every dollar put into a RRIF comes back to you, plus interest, and the interest is tax sheltered until you withdraw it. If you have a RRIF elsewhere, we will transfer your RRIF to the Niverville Credit Union simply and easily and we will pay any transfer fee of up to $50.00 per plan.

Your RRIF can be transferred to a surviving spouse on a tax-deferred basis, if directed by a designation of beneficiary or by a will.

Fixed Rate:

• Terms from 12 months to 60 months
• Interest compounded annually

Variable Rate:

• Interest calculated on daily closing balance
• Open term; no penalties for withdrawal
• Interest rate fluctuates with market conditions

All deposits guaranteed without limit by the Deposit Guarantee Corporation of Manitoba. Visit http://dgcm.ca/ for more information.