RRIF Savings Account
Earn a great return on your savings in retirement with Achieva’s Registered Retirement Income Fund (RRIF) Savings Account.
At age 71, the Canada Revenue Agency (CRA) requires you to convert your RRSP to a RRIF. If you already have an RRSP with Achieva, the transition to a RRIF is simple, with your retirement savings remaining sheltered from tax. Your new Achieva RRIF Savings Account keeps your funds accessible and provides a secure source of income during retirement, with your savings guaranteed 100% by the Deposit Guarantee Corporation of Manitoba. RRIFs at other financial institutions can also be easily transferred to Achieva, maximizing your interest earned and simplifying your income stream during retirement.
A RRIF allows you flexibility and self-direction of your income in retirement. When you open your RRIF, establish a payment schedule that works for you. Should you wish to lock in at a higher interest rate, Achieva RRIF Savings Accounts can easily be transferred to a higher interest locked-in RRIF GIC.
Looking for other retirement savings options? Achieva also offers Locked-In Retirement Accounts (LIRAs) and Life Income Funds (LIFs). Please contact our Customer Support Centre for further information.