Annuities
Guaranteed retirement income, even during times of economic instability

With Beneva you can designate a beneficiary to receive the balance of your account in the event of death.
Financial goals
Retirement income
Horizon
Short term
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The Registered Retirement Income Fund (RRIF) is the logical extension of your RRSP. It allows you to start withdrawing your savings as income when you retire or the year you turn 71. Your years of saving have finally paid off, enjoy!
Your RRSP must be converted into an RRIF to start withdrawing for retirement, or by December 31 of the year you turn 71.
You control your income. Withdraw as much as you need, as long as you take out the required minimum annual amount (unlike the LIF).
Your tax-sheltered savings keep growing in the RRIF until you withdraw them. Your plan is transferable tax-free to your spouse upon death.
If you’re about to turn 71 or want to receive retirement income, that’s your cue to get in touch with one of our advisors!1
The first step is to discuss your retirement plan: the time horizon, your withdrawal plan and your risk profile.
Even if you can no longer contribute to your RRIF, you can still manage your investments to reflect your needs. Your investments continue to grow tax-sheltered until withdrawn.
You can also transfer your RRSP investments to a RRIF without having to liquidate them.
The year after you open the RRIF, you start withdrawing at least the legally required minimum, depending on your age.
Unlike the LIF there’s no maximum limit, so you have the freedom to withdraw as much as you need based on your goals and retirement plan.
Just keep in mind that the money you withdraw from your RRIF lowers your reserves and becomes taxable income.
If you pass away before your partner, the RRIF can be transferred to your spouse tax-free.
The scenario shown here is for demonstration purposes only2 and should not be relied upon as financial or other advice.
Tap into performance-focused investment products.
When you invest with an insurer, you can designate a beneficiary to receive the balance of your account in the event of death.
Enjoy the flexibility of a Beneva RRIF and convert your savings at any time to a term certain annuity or a life annuity.
Enjoy the flexibility of a Beneva RRIF and convert your savings at any time to a term certain annuity or a life annuity.
Guaranteed retirement income, even during times of economic instability
Guaranteed interest account: Play it safe with a sure payout
A hybrid guaranteed interest account: Market exposure meets guaranteed earnings
Diversified funds and portfolios that deliver on performance