Turn your retirement savings into income

In retirement, it’s time to start spending what you’ve saved over the years. Inside your registered retirement income fund (RRIF), you can continue to earn a high interest rate with the flexibility to withdraw whenever you want with no fees.

Our Retirement Income Advantage Account gives you:

  • A high interest rate on every dollar you invest
  • No taxes on interest earned until you withdraw your money
  • Low minimum investment of $1,000

Registered Advantage Account1

Is our Retirement Income Advantage Account right for you?

Yes, if you:

  • Want to start drawing income from your retirement savings
  • Want your money to stay safe and keep growing
  • Don’t want your money locked-in
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Benefits of our Retirement Income Advantage Account

High-interest RRIF Rates


Our Retirement Income Advantage Account offers a high interest rate on all your money:

Registered Advantage Account


With our Retirement Income Advantage Account, there are no fees to open an account or withdraw funds. Other services and fees include:

Registered fund transfer from another RRSP or RRIF no charge
Transferring money to your account at another financial institution no charge
Official cheque no charge
Registered fund transfer no charge

Fees are subject to change with at least 30 days of prior written notice. If you don’t receive paper statements, you can find all fee information online.


Retirement income calculator

Find out how long your savings will last in your Retirement Income Fund.


You can only transfer money into your Retirement Income Advantage Account directly from an RRSP or another RRIF. There are no fees for these transfers.

There are two ways you can withdraw money from your Retirement Income Advantage Account. You can direct deposit the money into a non-registered account either with Manulife Bank or at another bank, or you can ask us to write you a cheque. There are no fees for withdrawals.

We will send you a statement every six months, listing all your transactions during the period. You can choose e-statements or paper statements. There are no fees for either type of statement.

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Tax-Free Advantage Account

Enjoy a high interest rate and flexibility within your Tax-Free Savings Account (TFSA). The Tax-Free Advantage Account has no minimum investment, and no fees for set-up, maintenance, deposits or withdrawals. 

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Registered Advantage Account

If you’re under age 71, you can reduce investment ups and downs and keep your money accessible within your Registered Retirement Savings Plan (RRSP). The Registered Advantage Account has no minimum investment, and no fees for set-up, maintenance, deposits or withdrawals. Keep in mind that withdrawals from an RRSP are taxable so we may withhold an amount for taxes when you withdraw.

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Get a high interest rate with guaranteed investment certificates (GIC)

If you don’t need to access your money in the near future, consider a short-term deposit or long-term GIC. Choose a term between 30 days and 5 years – in general, the longer the term, the higher your interest rate.