RRIFs & LRIFs
Prepare yourself for the later years by covering all the bases with Registered Retirement Income Funds (RRIFs) and Locked-in Retirement Income Funds (LRIFs) provided by DUCA Financial Services Credit Union in Toronto, Ontario, Canada.
Avoid excessive taxation and save your hard-earned dollars with sound advice from one of our people-centered representatives. Choose between a good return with the security of a fixed rate or earn slightly higher rates with a variable plan.
RRIFs give you great flexibility when it comes to controlling your money during retirement years. The government sets mandatory minimum levels as to frequency of income payment and amount paid to your account.
At DUCA, we can have all your payments automatically put in your chequing or savings account. At 69, your RRSPs must be converted to RRIFs, but you'll still earn good returns on your money.
A LRIF is a RRIF that locks in rates for life to ensure a lifetime income. On this plan, you can control your investments while giving you some flexibility as to when to schedule income payments.
One good advantage of a DUCA LRIF is the ability to conform your payments to fit the budgetary requirements of early retirement. Determining your budget early in retirement gives you the ability to plan more effectively later for any future expenses -like medical bills.
With a LRIF, you can build an estate that can transfer your LRIFs from one issuer to another, again to cover any unforeseen expenses.
See one of our friendly representatives at 12 branches in the GTA and discover the difference with DUCA Financial Services Credit Union.
Last updated: Jul 24, 2008 @ 8:02pm
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