When you convert your RRSP's to a RIF they are paid back slowly to you so that you dont get hit as hard, Im not an acountant but i believe that when you do retire you pay less in taxes. Keep in mind that when you contibute you are also getting a tax return which in turn is like free money. Also you are being paid interest on you RRSP's until you retire as well as when they are being paid back to you in a RIF, so unless you keep your RRSP's in a non interest bearing account you should keep up to inflation plus some. JUST DONT TAKE THEM OUT BEFORE YOU RETIRE!
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11-28-2004, 09:34 AM
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