An RRIF (Registered Retirement Income Fund) requires annual minimum withdrawals starting the year after it is established.
It can be either self-directed or managed.
The RRSP must be converted to an RRIF or annuity by the end of the year the holder turns 71; the RRIF itself is not terminated at that age.
Withdrawals are based on the age of the annuitant or spouse.
Thus, the key requirement is minimum annual withdrawals.
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