RRIF
Business & Finance abbreviation · Personal Finance
| Stands for | Registered Retirement Income Fund |
|---|---|
| Categories | Business & Finance |
RRIF stands for Registered Retirement Income Fund, a personal finance abbreviation.
Canadian account into which RRSP savings are converted to provide retirement income, with a minimum taxable withdrawal required every year based on age. Conversion must happen by the end of the year the holder turns 71.
Example: My RRIF minimum this year is 5.4% of the January 1 balance.
Usage notes
Pronounced "riff." The minimum withdrawal percentage rises with age, and holders may base it on a younger spouse's age to reduce required withdrawals.
Related abbreviations
More personal finance abbreviations
- QLAC – Qualified longevity annuity contract
- RDSP – Registered Disability Savings Plan
- RESP – Registered Education Savings Plan
- RMD – Required minimum distribution
- Roth 401(k) – Roth designated account within a 401(k) plan
- Roth IRA – Roth individual retirement account
- RRSP – Registered Retirement Savings Plan
- SEP IRA – Simplified Employee Pension individual retirement account
- SEPP – Substantially equal periodic payments
- SIMPLE IRA – Savings Incentive Match Plan for Employees individual retirement…
- SIPP – Self-invested personal pension
- SMSF – Self-managed super fund