Registered Retirement Income Fund (RRIF)
The first stage of an RRSP is to accumulate retirement savings. The next stage is to provide retirement income. Your accumulated savings may be invested in a variety of options to provide a retirement income eg. RRIF. The retirement income payments are taxed each year as you receive them, thus spreading the taxation of your accumulated savings over your retirement.
Plainsview Credit Union offers the following Registered Retirement Income Funds deposits for your convenience:
- Variable Plan Rates fluctuate with the market. This plan is open and can be changed to a locked in interest plan at any time.
- Fixed Plan Available investment periods of 1-5 years and the interest rate fixed for the length of term chosen