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Friday, August 7, 2020

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We understand the entertainment industry, and the people in it.

Registered Retirement Income Funds

Registered Retirement Income Funds (RRIFs) are currently the most popular form of retirement income. While you do not contribute directly to a RRIF, funds can be transferred from an RRSP, another RRIF, a Registered Pension Plan, or a commuted RRSP annuity.  At age 71, all RRSP investments must be converted to a RRIF or annuity, or cashed.

RRIFs are similar to an RRSP with the exception that planholders are required to take taxable payments from the RRIF on an annual basis. You choose the payment level as long as it meets the minimum levels set out by the government.

RRIF Investments - 1 to 5 Year

  • minimum $500, non-redeemable GIC
  • a safe and important component of any investment portfolio
  • interest compounds on each anniversary date and notices are provided prior to maturity.

Click here for more information on RRIFs and our member-friendly RRIF calculator.


Check our current rates.


 

COVID-19

To help limit the spread of COVID-19 virus the office is closed until further notice in accordance with the recommendations of the City of Toronto  Read more...

Look Who's Talking

Shelley Cook recalls a time when she approached one of the big banks for a loan. “I told them I was a stunt girl and they said ‘Do you have a real job?’ “ Read more...

Deposit Insurance Reserve Fund

Did you know that deposits are insured by the Deposit Insurance Reserve Fund (DIRF)? So you can rest comfortably knowing your deposits are safe.   Learn more... 

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625 CHURCH STREET. 1ST FLOOR, TORONTO, ON  M4Y 2G1
416.642.6749  |  877.643.3660  |  info@creativeartscu.com

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