Everything you need to know about converting your RRSP into a RRIF this year

If the requirement to withdraw an annual minimum amount from your Registered Retirement Income Fund (RRIF) was eliminated, it would cost the government approximately $1 billion dollars annually, according to a cost estimate released this week by the Office of the Parliamentary Budget Officer. The estimate was done at the request of Conservative MP Kelly McCauley (Edmonton South) and is based on the assumption that RRIF holders would withdraw less, thereby reducing government revenues since...