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What happens to my RRSP when it's time to retire?

Once you decide to retire, you can start making arrangements to withdraw from your RRSP to support your retirement. The most popular choice for Canadians is to convert their RRSPs to a Registered Retirement Income Fund (RRIF). With a RRIF, your investments can continue to grow on a tax-deferred basis while you withdraw the income you need.

By law, your RRSPs must be converted to a form of retirement income by the end of the calendar year in which you turn 71.

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