Registered retirement income fund (RRIF)

The RRIF from Épargne Placements Québec is a great option to ensure your financial security during retirement. It is an extension of your registered retirement savings plan (RRSP): the capital you have carefully accumulated over the years continues to grow tax-free in the RRIF. Only the withdrawals you make will be taxed.

Our benefits

Épargne Placements Québec’s RRIF, a smart choice and a profitable investment:

• All products can be used for the RRIF payment.
• Flexi-Plus Savings is prioritized for withdrawals, followed by the lowest interest rate products, allowing your other higher-yielding products to grow.
• Competitive interest rates.
• No management or administration fees.
• Fully guaranteed capital, regardless of the amount;

Payment agreements

Every year, a minimum withdrawal from your RRIF is mandatory. A payment agreement for an amount equal to or greater than the mandatory minimum is established with Épargne Placements Québec. You can define the terms of this agreement yourself, that is, the amount and frequency of payments, as well as the payment method, according to your needs. The deadline to modify your agreement for the current year is April 1 of every year.

The payment methods offered are:

• Payment to the Investment Savings Account in Flexi-Plus Savings, a product that can be redeemed at any time at an advantageous rate.
• Transfer of products to the Investment Savings Account, an option available exclusively for the mandatory minimum amount with no tax withheld(except for Stock Index Bonds, which are not transferable).
• Electronic funds transfer to your bank account.

In order to maximize the return on your portfolio, withdrawals for payments are made automatically in the following order of priority:

1. Flexi-Plus Savings.
2. The product with the lowest interest rate on the day of payment.
3. The product with the nearest maturity (if several products have the same rate).
4. Stock Index Bonds (if this is the only product in the account). Withdrawal is allowed at purchase value without interest.

If a term product is used, EPQ will sell it on your scheduled payment date regardless of the maturity date or anniversary date of the product.

The calculation of the mandatory minimum withdrawal is based on your RRIF balance as of December 31 of each year and your age or your spouse’s age (the decision to use either person’s age is established at the outset and cannot be changed). The table below shows the percentage that must be withdrawn from your RRIF balance each year based on your or your spouse’s age.

Age	%	Age	%
Before the age of 71	1 divided by (90 minus the age on January 1st)	83	7.71
71	5.28	84	8.08
72	5.40	85	8.51
73	5.53	86	8.99
74	5.67	87	9.55
75	5.82	88	10.21
76	5.98	89	10.99
77	6.17	90	11.92
78	6.36	91	13.06
79	6.58	92	14.49
80	6.82	93	16.34
81	7.08	94	18.79
82	7.38	95	20.00

By withdrawing the mandatory annual minimum only, you maximize the return on your portfolio while benefiting from our advantageous rates. The best strategy is to evaluate the necessary withdrawals from your RRIF based on your financial needs and your other sources of income.

Withdrawing in addition to scheduled payments

If you wish to make a withdrawal from your RRIF during the year to meet your financial needs, you will need to sell a product, provided that the product’s cash flow characteristics allow for this. The withdrawal will be added to your scheduled payments for the current year and will be taxable from the first dollar.

Do you already have a RRIF with Épargne Placements Québec?

To view or change the terms of your payment agreement, go to the Online transactions section of our Web site, and follow this path: Summary>Operations>Payment Agreements.

Opening a RRIF

The law requires that your RRSP be converted to a RRIF by December 31 of the year you turn 71.

Do you have a RRSP with Épargne Placements Québec? You won’t have to do anything to convert your RRSP into a RRIF when you turn 71. Épargne Placements Québec will take care of opening a RRIF and transferring the amounts held in your RRSP. You will receive a communication from Épargne Placements Québec to notify you a few months before December 31 of the year you turn 71.

You don’t have an RRSP with Épargne Placements Québec and would like to open a RRIF before you turn 71?
You can do so online by following this path: Online transactions > Operations > Purchases. Next, create your payment agreement by selecting “Payment agreements” in the “Operations” menu.

You already have an RRSP with Épargne Placements Québec and would like to open a RRIF before you turn 71?
You can do so online by following this path: Online transactions > Operations > Transferts. Next, create your payment agreement by selecting “Payment agreements” in the “Operations” menu.