Interactive Brokers Launches Registered Retirement Income Funds (RRIF)
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registered retirement income fundsfinancial
A Registered Retirement Income Fund (RRIF) is a government-registered Canadian retirement account that holds previously saved retirement assets and converts them into a stream of withdrawals. It matters to investors because funds inside a RRIF continue to grow tax-deferred but withdrawals are taxable and subject to minimum annual amounts, so the account shapes retirement cash flow, tax bills, and how long your savings last—like a programmed ATM that forces you to take a certain amount each year.
rriffinancial
A Registered Retirement Income Fund (RRIF) is a Canadian government-registered account that holds retirement savings and pays them out as regular income while keeping tax-deferred growth. Think of it as converting a savings pot into a steady paycheck: investors must withdraw a minimum amount each year, which matters because those withdrawals are taxable and affect cash flow, tax planning, and how long retirement savings will last.
registered retirement savings plansfinancial
A registered retirement savings plan (RRSP) is a government-recognized account that lets individuals save and invest for retirement with immediate tax benefits: contributions often reduce taxable income today and the investments grow without annual tax on gains while held. Think of it as a tax-deferred piggy bank where money is taxed when withdrawn in retirement, which matters to investors because it can lower current taxes, boost long-term growth, and change when and how much income is taken later.
rrspfinancial
A Registered Retirement Savings Plan (RRSP) is a Canadian government-registered account for saving and investing toward retirement where contributions are often tax-deductible and investment gains are not taxed until withdrawn. It matters to investors because using an RRSP can lower your current taxable income and let savings grow without immediate tax drag, much like a tax-deferred piggy bank; timing contributions and withdrawals affects your long-term after-tax returns.
tax-free savings accountfinancial
A tax-free savings account is a government-approved investment account where interest, dividends and capital gains grow without being taxed while they remain in the account. For investors it works like a tax-exempt piggy bank: you can shelter returns from taxes to boost long-term growth and use flexible withdrawals without extra tax consequences, which can improve after-tax returns and make saving and timing investments more efficient.
tfsafinancial
A TFSA (Tax-Free Savings Account) is a Canadian-registered account that lets individuals hold cash, stocks, bonds or funds and earn investment returns without paying tax on growth or withdrawals. It matters to investors because returns compound tax-free—think of it like a garden where everything you harvest isn’t taxed—so using a TFSA can improve after-tax returns and flexibility for saving goals, while contribution limits and rules affect how much you can shelter.
first home savings accountfinancial
A first home savings account is a special bank or investment account that helps people save toward their first house by offering tax or other government incentives, plus rules on contributions and withdrawals. Think of it as a piggy bank with official tax breaks and conditions to encourage home buying. For investors, these accounts can alter demand for mortgages, housing-related financial products, and short-term consumer savings patterns, affecting lenders and housing market dynamics.
fhsafinancial
A First Home Savings Account (FHSA) is a tax-advantaged savings account designed to help first-time home buyers set aside money for a home purchase without paying tax on growth or withdrawals for that purpose. For investors and market watchers, FHSAs can change how much cash households have for down payments and influence demand for mortgages, real estate, and financial products from banks and brokerages—think of it as a dedicated piggy bank that can shift where and how people spend large amounts of money.
Innovative Retirement Drawdown Solution Now Available to Canadian Clients
GREENWICH, Conn.--(BUSINESS WIRE)--
Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, today announced the launch of Registered Retirement Income Funds (RRIF), a retirement drawdown solution specifically for Canadian residents. Available through Interactive Brokers Canada Inc., the RRIF offers streamlined income withdrawals in line with government regulations while providing individuals flexibility in managing their retirement funds.
Interactive Brokers’ newly launched RRIF is available on the same trading platforms as other registered accounts, including Interactive Brokers’ Tax-Free Savings Account (TFSA) and First Home Savings Account (FHSA). This enables Canadian investors to trade a variety of products, use powerful technology and tools, and access low costs to efficiently manage their savings, diversify their investments, and easily monitor portfolios to support their retirement and investment objectives from a single interface.
Key features of Interactive Brokers’ RRIF include:
Seamless conversion from existing Registered Retirement Savings Plans (RRSP) with no need to transfer assets
Access to diverse investment products including stocks, options, bonds, and ETFs
Low-cost trading with competitive commissions and no account maintenance fees
Advanced tools including portfolio analytics and automated minimum withdrawal calculations
Integrated platform allowing clients to manage their RRIF, RRSP, TFSA, and FHSA from a single login
Flexible withdrawal options with the ability to withdraw more than the minimum when needed
“The introduction of Registered Retirement Income Funds demonstrates Interactive Brokers’ ongoing dedication to delivering innovative financial solutions for investors in markets around the world,” said Jean-François Bernier, Managing Director of Interactive Brokers Canada. “By adding Registered Retirement Income Funds to our platform, we’re expanding the comprehensive range of retirement and investment choices we offer to our Canadian clients. This addition also confirms our commitment to the professional investment adviser channel in Canada. It enhances our existing low-cost turnkey custody solutions and will prove invaluable to this growing segment of our clientele seeking to manage their business more effectively by consolidating more of their clients’ assets with us.”
A RRIF is designed for individuals ready to draw down their retirement savings. By age 71, Canadians must convert their RRSP to a RRIF and make minimum annual withdrawals based on their age or their spouse’s age.
The best-informed investors choose Interactive Brokers
About Interactive Brokers Group, Inc.:
Interactive Brokers Group, Inc. (NASDAQ: IBKR) is a member of the S&P 500. Its affiliates provide automated trade execution and custody of securities, commodities, foreign exchange, and forecast contracts around the clock on over 170 markets in numerous countries and currencies from a single unified platform to clients worldwide. We serve individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation have enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Interactive Brokers has consistently earned recognition as a top broker, garnering multiple awards and accolades from respected industry sources such as Barron's, Investopedia, Stockbrokers.com, and many others.
