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Registered Retirement Income Fund (RRIF)

Enjoy your retirement with access to the income you need

A Registered Retirement Income Fund (RRIF) is a government-registered investment plan that provides you with income in retirement, typically from money saved and invested in a Registered Retirement Savings Plan (RRSP).

You can open a RRIF whenever you wish to draw income from your retirement savings.

You must convert your RRSP to a RRIF, purchase an annuity or withdraw the full balance of your RRSP no later than the end of the year in which you turn 71.

If you choose to set up a RRIF, a certain percentage of your account needs to be withdrawn annually. RRIF withdrawals may have tax consequences depending on your personal situation.

Ready to open a RRIF?

Benefits and features

Flexibility when you withdraw or transfer

  • Withdraw the minimum amount required by the government or more, on a schedule that works for you

Tools to help you plan post-retirement finances

  • Find out how much you need to withdraw from your RRIF savings each year with our RRIF Payments Calculator.
  • An HSBC Mutual Fund Advisor is available to discuss your options whenever your needs change.
  • Ask your HSBC Premier Relationship Manager3 to complete a customized Goal Plan and live your best life in retirement. HSBC My Goals is an exclusive goal planning service we offer to our HSBC Premier4 clients.

A range of products to manage your money

  • Hold a variety of investment and savings products depending on your needs and preferences, including HSBC Mutual Funds1 and HSBC Managed Solutions2, individual stocks and bonds, guaranteed investment certificates (GIC), fixed rate savings, and more.
  • Consolidate your retirement savings from multiple accounts in one convenient location for better visibility and control over your investments.

Transfer locked-in funds

  • You can roll your Locked-in Retirement Account (LIRA) or Locked-in RRSP into a Life Income Fund (LIF). Similar to a RRIF, these accounts are intended to provide income in retirement.

Build the RRIF that’s right for you

HSBC offers a wide range of RRIF-eligible products to help you maintain and grow your wealth in retirement. You may even be able to keep the same types of products you previously held in your RRSP.

Maximize the long-term performance potential of your RRIF holdings with locally and globally diversified HSBC Mutual Funds. Not insured by the CDIC.

Benefit from broad diversification across asset classes and markets with the expertise of global portfolio managers who make the day-to-day investment decisions for you. Not insured by the CDIC.

Manage your investment of choice for your RRIF with HSBC InvestDirect3, our self-directed online brokerage. Access a wide variety of securities from major international markets and pay low trading commissions. Not insured by the CDIC.

The Private Investment Counsel4 Service is a boutique, discretionary service designed for high net worth clients offering tailored investment solutions and wealth planning services with specialized attention from HSBC’s worldwide network of research analysts and money managers. 

Enjoy piece of mind with redeemable guaranteed investment certificates (GIC), term deposits, and for your RRIF.

How to apply

Open a new RRIF

Convert your existing RRSP, transfer a RRIF held elsewhere, or open a new account.

Open a self-directed RRIF online with HSBC InvestDirect.

Already have a RRIF with HSBC?

View your existing RRIF in online banking.

View your existing RRIF through HSBC Wealth CompassTM.

What kind of investor are you?

No matter your personality or comfort level with investing, there’s an approach that’s right for you.

Published by HSBC Investment Funds (Canada) Inc. (“HIFC”)

Neither HIFC, HSBC nor any member of the HSBC Group provides tax advice. This web page is for information purposes only and is not intended to provide specific financial, legal, tax, investment or other advice, and should not be relied upon in that regard. You should not act or rely on the information without seeking the advice of a professional. Please consult your tax advisor to find out which strategies best suit your tax situation. Registered plans for individuals are subject to specific limits, tax implications and restrictions which can be found on the CRA Savings and pension plans webpage. You are responsible for fulfilling your tax obligations in any jurisdiction, even if those obligations relate to opening or using accounts and services offered or provided by HIFC, HSBC or members of HSBC Group. HSBC Group means HSBC Holdings plc, its affiliates, subsidiaries, associated entities, and their branches and offices, together or individually.

1,2 HIFC is a direct subsidiary of HSBC Global Asset Management (Canada) Limited (“AMCA”) and an indirect subsidiary of HSBC Bank Canada and provides its services in all provinces of Canada except Prince Edward Island. AMCA is a wholly owned subsidiary of, but separate entity from, HSBC Bank Canada.

AMCA is the manager and primary investment advisor for the HSBC Mutual Funds and the HSBC Pooled Funds (collectively, the “HSBC Funds”). HIFC is the principal distributor of the HSBC Mutual Funds, which are also distributed through authorized dealers. HIFC also offers the HSBC Funds through HSBC World Selection® Portfolio service. This is a portfolio investment service under which client’s assets are invested in model portfolios which are comprised of investments in the HSBC Funds. AMCA provides discretionary investment management services to the model portfolios in the HSBC World Selection Portfolio service. Commissions, trailing commissions, management fees, investment management fees and expenses all may be associated with investments in the HSBC Funds and/or the HSBC World Selection Portfolio service. Please read the prospectus, Fund Facts, applicable account opening documentation and any other disclosures before investing in the HSBC Funds and/or the HSBC World Selection Portfolio service. The HSBC World Selection Portfolio service and the HSBC Funds are not guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other government deposit insurer or financial institution, their values change frequently, and past performance may not be repeated. For money market funds, there can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you.

® World Selection is a registered trademark of HSBC Group Management Services Limited.

HSBC Wealth Compass™ is a trademark of HSBC Group Management Services Limited. HSBC Wealth Compass™ is an online service offered by HIFC which allows clients to discover their investor profile, receive a personalized investment recommendation and apply to start investing in mutual funds.

All products and services of HIFC and AMCA are only available for sale to residents of Canada unless the laws of a foreign jurisdiction permit sales to its residents. Please contact your HSBC Mutual Fund Advisor for more details. The contents of this site should not be considered an offer to sell or a solicitation to buy products or services to any person in a jurisdiction where such offer or solicitation is considered unlawful.


3 HSBC Premier Relationship Managers are dually employed as HSBC Mutual Fund Advisors by HSBC Investment Funds (Canada) Inc. and HSBC Bank Canada.


4 HSBC Premier requires you to have an active HSBC Premier chequing account, and either:

      1. Have personal deposits and investments with HSBC in Canada totaling $100,000 or more; or

      2. Hold a personal mortgage with HSBC in Canada with an original amount of CAD $500,000 or more.

You can also meet the conditions in points 1 and 2 above by combining you and your spouse or common law partner’s balances through our Household Qualification Program ; or

      1. Have total monthly income deposits of $6,500 or more with HSBC in Canada plus confirmation of $100,000 or more in deposits and/or investments in Canada, or

      2. Qualify for HSBC Premier in another country.

Some exclusions apply. A monthly fee will be charged if you do not meet at least one of the eligibility criteria above. For full details regarding eligibility and any fees which may apply please refer to the Personal Service Charges Statement of Disclosure.


5 HSBC InvestDirect is a division of HSBC Securities (Canada) Inc., a wholly owned subsidiary of, but separate entity from, HSBC Bank Canada. Member – Canadian Investor Protection Fund. HSBC InvestDirect does not provide investment advice or recommendations regarding any investment decisions or securities transactions.


6 The Private Investment Counsel service is a discretionary portfolio management service offered by HSBC Private Investment Counsel (Canada) Inc. (HPIC). Under this discretionary service, assets of participating clients will be invested by HPIC or its delegated portfolio manager, HSBC Global Asset Management (Canada) Limited (AMCA), in securities, including but not limited to, stocks, bonds, mutual funds, pooled funds and derivatives. Commissions, management fees, custodial fees and expenses all may be associated with the use of the Private Investment Counsel service. Neither the Private Investment Counsel service nor any of the securities purchased as part of the Private Investment Counsel service are guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other investor protection fund or deposit insurer. The value of an investment in or purchased as part of the Private Investment Counsel service may change frequently and past performance may not be repeated. HPIC is a wholly owned subsidiary of, but separate legal entity from, HSBC Bank Canada and provides its services in all provinces of Canada, except Prince Edward Island. AMCA is a wholly owned subsidiary of, but separate entity from, HSBC Bank Canada. Full terms and conditions are available at

This website may provide external links that give you access to HSBC websites located in Canada and other countries. These links are provided solely for the readers' informational purposes and convenience. When readers select a link to an external website, they are subject to and governed and bound by the policies and terms and conditions of the external website. Please read the website's policies and terms and conditions before using the website. If you enter a website outside of Canada, you are advised that it may not be legal in that jurisdiction for you to use the facilities available on that website and the legal requirements of that jurisdiction may prohibit you from dealing in that jurisdiction. If you access a jurisdiction in which you are not resident, you do so at your own risk, and HSBC Group will not be liable for any breach of local law or regulation that you may commit because of using and accessing a website in a country in which you are not resident.

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