Deposits held in a Registered Retirement Income Fund (RRIF)
CDIC protects eligible deposits held in a Registered Retirement Income Fund (RRIF).
These are other types of registered retirement income funds. Deposits made to these funds are combined with deposits in a RRIF for a total of $100,000:
- LIF – Life Income Fund
- LRIF – Locked-In Retirement Income Fund
- RLIF – Restricted Life Income Fund
- PRIF – Prescribed Retirement Income Fund
Example
Karen loves to read and worked at the public library for many years. She hopes to continue to grow her book collection now that she’s retired.
This is Karen’s RRIF portfolio. Here is what does (✓) and does not (✗) qualify for coverage:
- $79,000 in a GIC
- $9,500 in stocks and bonds
- $7,500 in mutual funds
Total portfolio
$96,000
Eligible deposits
$79,000
Protected by CDIC
$79,000
In Karen’s RRIF portfolio, the GIC is eligible for coverage.
Deposit insurance is free and automatic.
Our calculator can help you understand coverage. Protection is based on several deposit categories that keep your money safe throughout your life.
Calculate your coverage