What is a TD Mutual Funds Retirement Income Fund
(RIF)?
A RIF is designed to provide income using your RSP savings. Although you can convert your RSP savings to a RIF at any age, it must occur prior to the end of the year in which you turn 71.
With a TD Mutual Funds RIF, you'll enjoy control, flexibility and convenience:
- You decide how much income you require (subject to an annual minimum amount);
- You decide which TD Mutual Funds to invest in and which funds to receive income from;
- You decide when to receive your payments, as often as every week or simply once a year;
- You decide how to receive your payments, either through direct deposit into your bank account or a cheque by mail;
- You decide who should become beneficiary of your assets in the event of your death.
You'll continue to benefit from tax-deferral and you have the freedom to invest your holdings as you wish
As a registered account, your TD Mutual Funds RIF maintains the benefits of tax-deferral. Only the amount withdrawn from the account is subject to tax. Income tax will be deducted at source from any amount withdrawn over the annual minimum payment.
Although you may not contribute additional funds to your TD Mutual Funds RIF, you are free to reallocate your holdings between the family of TD Mutual Funds and TD Managed Assets Program Portfolios.
Discover the many advantages of a TD Mutual Funds RIF
A TD Mutual Funds Retirement Income Fund can help you make the most of your assets when it's time to convert your RSP to retirement income.
When you open a TD Mutual Funds RIF account, you'll enjoy all of these advantages:
Income
- Total flexibility - change withdrawal amounts at any time and at no charge (subject to a minimum amount required by law)
- Lump sum withdrawals can be withdrawn at any time and at no charge
- A wide choice of mutual fund options geared to providing the appropriate diversification required to meet your individual needs
Services
- Transfer your existing TD Mutual Funds RSP holdings to your RIF in-kind, maintaining your existing holdings
- Transfer your RSP from another Financial Institution with ease
- Free transfers between funds, although an early redemption fee of 2% applies to transfers and redemptions if made within 90 days of original purchase on selected funds
- An option to better manage your income taxes by having TD Asset Management withhold and remit additional taxes on your behalf
- Access to Professionally Managed Portfolios through TD Managed Assets Program (TD MAP)
- Convenient payment options including Direct Deposit into your TD Canada Trust Savings or Chequing account
- Fast and easy ways of Accessing Your Account and professional advice about your investments
Whether you're just exploring the possibilities of a RIF account, or you're ready to make a decision, our Mutual Funds Representatives are always ready to provide you with the information and advice you need.
Talk to a TD Mutual Funds Representative today by visiting any TD Canada Trust branch or calling 1 800-281-8029.
Disclosures
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