RRIF (Registered Retirement Income Fund)

In the calendar year that you turn 71 years of age, you MUST close out your RRSPs or convert them into a RRIF or alternative investment vehicle. RRIF's allow you to preserve the tax-deferred status of your RRSP investments and take the funds out slowly over your retirement years in order to lower the total amount of tax paid.

At age 71 or earlier there are a number of major decisions you will need to make with regards to your retirement income. Erickson Credit Union has the products, knowledge and experience to guide you in making the best decisions with regards to your individual situation. We will take the time to sit down with you and help you understand your options so that you feel comfortable with your retirement income decisions.

Erickson Credit Union offers RRIF's with the following options:

• Monthly, quarterly, semi-annual or annual payments directly into your account.
• No fees
• Investment options include variable rate & fixed rate term deposits.

We can tailor an investment product to meet your needs and provide you with the comfort level that allows you to enjoy your retirement without worrying about your investments.

All deposits with the ERICKSON CREDIT UNION are fully guaranteed by the Credit Union Deposit Guarantee Corporation.