Registered Retirement Income Fund definition

Registered Retirement Income Fund means a deposit held in a registered retirement income fund;
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Registered Retirement Income Fund or “RRIF” means a Contract registered under the Income Tax Act and established as a “retirement income fund” for tax purposes; additional requirements apply to the minimum amount which must be withdrawn annually;
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Registered Retirement Income Fund or “RRIF” means a Contract registered under the Income Tax Act and established as a “retirement income fund” for tax purposes; additional requirements apply to the minimum amount which must be withdrawn annually. See Section 6 of the Contract for further details;
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Examples of Registered Retirement Income Fund in a sentence

  • The Board of Directors considers, approves, and if necessary prorates requests for redemption, with redemption requests of the estate of deceased members, expelled members, members who must withdraw a minimum annual amount from their shares held in a Registered Retirement Income Fund and members who must transfer their shares held in a Registered Retirement Savings Plan to a Registered Retirement Income Fund taking priority.

  • Combine them with locked-in funds to set up a monthly pension from the CSS Pension Plan.2. Combine them with locked-in funds to set up a Life Annuity from a life insurance company.3. Combine them with locked-in funds to set up Variable Benefit (VB) payments from the CSS Pension Plan.4. Transfer to a Registered Retirement Savings Plan (RRSP) from a financial institution of your choice.5. Transfer to a Registered Retirement Income Fund (RRIF) from a financial institution of your choice.

  • To the extent allowed by the Income Tax Act (Canada) and its Regulations, the lump sum will be paid as a retiring allowance which may allow for some or all to be deposited to a Registered Retirement Savings Plan or to a Registered Retirement Income Fund.

  • Former members of the University pension plans may allocate all or a portion of their entitlement accrued under the pension plans to either a Registered Retirement Income Fund ("RRIF"), a Life Income Fund ("LIF") or a Locked in Retirement Income Fund ("LRIF").

  • Your Registered Retirement Savings Plan account must be converted into a Registered Retirement Income Fund no later than December 31 of the year you turn 71 years of age.

  • The Life Income Fund is a type of retirement income plan that is similar to the Registered Retirement Income Fund (RIFF).

  • The Registered Retirement Income Fund is a natural extension of an RRSP, so it is one of the most sensible choices you can make.

  • If you have not advised us in writing, prior to December 31 of the year required under the Income Tax Act, of your selection of a retirement income the proceeds of your Plan will be transferred to a Registered Retirement Income Fund issued by us.

  • However, RRIF (Registered Retirement Income Fund) withdrawals are not subject to the attribution rules in the year of contribution or the two previous years as long as only the minimum amount is withdrawn.

  • The most common choice is to open a Registered Retirement Income Fund (RRIF), but there are other options to consider, including purchasing an annuity or distributing funds as income.


More Definitions of Registered Retirement Income Fund

Registered Retirement Income Fund or “rrIF” means a Contract registered under the Income Tax Act and established as a “retirement income fund” for tax purposes; additional requirements apply to the minimum amount which must be withdrawn annually;
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Registered Retirement Income Fund means a fund accepted as such by the Minister of Revenue of Canada for the purposes of the Income Tax Act and the registration of which is in force ;” ;
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Registered Retirement Income Fund means a retirement arrangement registered under Section 146 of the Income Tax Act.
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Registered Retirement Income Fund or “RRIF” means a contract that is registered as a retirement income fund pursuant to the Income Tax Act;
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Related to Registered Retirement Income Fund

  • Retirement home means a building used for living quarters for more than seven persons who are 65 years or older;

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Retirement fund means the "Washington law enforcement

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Pension Benefits Act means The Pension Benefits Act of Ontario and regulations thereunder as amended from time to time.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

  • Basic health benefit plan means any plan offered to an individual, a small group,

  • Retirement office means the Kentucky Retirement Systems office building in Frankfort;

  • Foreign Benefit Event means (a) with respect to any Foreign Pension Plan, (i) the existence of unfunded liabilities in excess of the amount permitted under any applicable law, or in excess of the amount that would be permitted absent a waiver from a Governmental Authority, (ii) the failure to make the required contributions or payments, under any applicable law, on or before the due date for such contributions or payments, (iii) the receipt of a notice by a Governmental Authority relating to the intention to terminate any such Foreign Pension Plan or to appoint a trustee to administer any such Foreign Pension Plan, or to the insolvency of any such Foreign Pension Plan and (iv) the incurrence of any liability of the Borrowers under applicable law on account of the complete or partial termination of such Foreign Pension Plan or the complete or partial withdrawal of any participating employer therein and (b) with respect to any Foreign Plan, (i) the occurrence of any transaction that is prohibited under any applicable law and could result in the incurrence of any liability by the Borrowers, or the imposition on the Borrowers of any fine, excise tax or penalty resulting from any noncompliance with any applicable law and (ii) any other event or condition that could reasonably be expected to result in liability of any of the Borrowers.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Health Savings Account means an account as permitted under section 223 of the internal revenue code of 1986, 26 USC 223.

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.

  • Normal Retirement Date means the later of the Normal Retirement Age or Termination of Employment.

  • Defined Benefit Plan Fraction means a fraction, the numerator of which is the projected annual benefit (determined as of the close of the relevant Plan Year) of the Participant under all Defined Benefit Plans maintained by one or more Related Companies, and the denominator of which is the lesser of (i) the product of 1.25 multiplied by the dollar limitation in effect under Section 415(b)(1)(A) of the Code for the Plan Year, or (ii) the product of 1.4 multiplied by the amount which may be taken into account under Section 415(b)(1)(B) of the Code with respect to the Participant for the Plan Year.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Pension Benefit Plan means at any time any employee pension benefit plan (including a Multiple Employer Plan, but not a Multiemployer Plan) which is covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code and either (i) is maintained by any member of the Controlled Group for employees of any member of the Controlled Group; or (ii) has at any time within the preceding five years been maintained by any entity which was at such time a member of the Controlled Group for employees of any entity which was at such time a member of the Controlled Group.

  • the Contributions and Benefits Act means the Social Security Contributions and Benefits Act 1992;

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Foreign Benefit Plan means any Employee Benefit Plan established, maintained or contributed to outside of the United States of America or which covers any employee working or residing outside of the United States.