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 an income during your retirement. Unlike the savings goal of a Registered Retirement Savings Plan (RRSP), an RRIF provides you an income generated from the money and interest that you saved within your RRSP.

 

You can open an RRIF anytime, up until the end of the year in which you turn 71. At that time, you must collapse your RRSP and either take all the money out of the RRSP (and pay tax on the entire amount) or roll it into an RRIF where it can continue to grow tax-free. Once you have set up your RRIF, you cannot contribute any more money to it, and you must take out a certain amount of money each year. This amount is calculated based on your age and a percentage of your savings. You must pay tax on any withdrawals, but at a tax rate that is usually lower than before you retired.

 

With this simple and convenient HSBC RRIF option, you have the flexibility to withdraw the minimum amount required, or as much income as you need. Plus, you can transfer your funds to another HSBC RRIF investment anytime.

Access the retirement income you need with HSBC RRIF Savings

Or call toll-free 1-888-310-4722

HSBC RRIF Savings benefits & details

Flexibility when you withdraw or transfer

  • Withdraw the minimum amount required by the government, or as much as you'd like – the choice is yours
  • Choose your withdrawal schedule – monthly, quarterly, semi-annually, annually, or lump-sum payments anytime
  • Increase or decrease your withdrawal amounts anytime
  • Transfer your funds to another HSBC RRIF investment, such as a GIC5 or mutual fund1, anytime with no penalties or fees
  • Find out how much you need to withdraw from your RRIF savings each year with our RRIF Payments Calculator

Higher rates from higher balances, and no minimum deposit

  • There's no minimum deposit, so you can invest as little or as much as you like
  • Earn tax-sheltered interest, calculated daily and paid monthly, on all balances up to $1,000,000

Benefits of all HSBC RRIFs

  • You can access your funds at any time
  • Save more of your investment as you don't pay service charges or administration fees (except for transferring out to other financial institutions)

RRSP & RRIF Savings Option

On the entire amount when your daily closing balance is:
Current Rate
Between $0 - $49,999
0.20%
Between $50,000 - $99,999
0.25%
Between $100,000 - $1,000,000
0.50%

RRSP & RRIF Savings Option

On the entire amount when your daily closing balance is:
Between $0 - $49,999
Current Rate
0.20%
On the entire amount when your daily closing balance is:
Between $50,000 - $99,999
Current Rate
0.25%
On the entire amount when your daily closing balance is:
Between $100,000 - $1,000,000
Current Rate
0.50%

No minimum deposit. Interest calculated daily and paid monthly. Interest is calculated up to the balance of $1,000,000 only, no interest will be paid on any portion over the balance of $1,000,000.

Rates are subject to change without prior notice. For information and to confirm most recent rates, please contact any HSBC branch.

Add global diversity and growth potential to your RRIF

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

1 HSBC Investment Funds (Canada) Inc. (“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 and provides its services in all provinces of Canada except Prince Edward Island. AMCA is the manager and primary investment advisor for the HSBC Mutual Funds. HIFC is the principal distributor of the HSBC Mutual Funds. HSBC Mutual Funds are also distributed through authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus, Fund Facts, and other disclosure documents before investing. Mutual funds are not guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other deposit insurer. The net asset values of all mutual funds, including the HSBC Mutual Funds, may change frequently and any past performance may not be repeated. For money market funds, there can be no assurances that such funds 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. 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.

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.

2 HSBC World Selection® Portfolio is a portfolio investment service offered by HIFC. In this service, a client’s assets are invested in model portfolios. Each model portfolio is comprised of investments in HSBC Pooled Funds, which are mutual funds managed by AMCA and distributed by HIFC. AMCA provides discretionary investment management services to the 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 Pooled Funds and/or the HSBC World Selection Portfolio service. Please read the applicable account opening documentation associated with HSBC World Selection Portfolio, the prospectus, Fund Facts, and other disclosure documents of the HSBC Pooled Funds in which investment may be made under HSBC World Selection Portfolio service before applying for the HSBC World Selection Portfolio service. The HSBC World Selection Portfolio service and the HSBC Pooled Funds are not guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other deposit insurer or financial institution. 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. The net asset values of all mutual funds, including the HSBC Pooled Funds, may change frequently and any past performance may not be repeated.

3 The Private Investment Management service is a discretionary portfolio management service offered by HSBC Private Wealth Services (Canada) Inc. Under this discretionary service, assets of participating clients will be invested by HSBC Private Wealth Services (Canada) Inc. or its delegated portfolio manager in securities, including but not limited to, stocks, bonds, pooled funds, mutual funds and derivatives. Commissions, trailing commissions, management fees and expenses all may be associated with the use of the Private Investment Management service. Neither the Private Investment Management service nor any of the securities purchased as part of the Private Investment Management service are guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other deposit insurer. The value of an investment in or purchased as part of the Private Investment Management service may change frequently and past performance may not be repeated.

4 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 

5 Guaranteed Investment Certificates (GIC). Click here for more information.