Investing as a New Dentist – What You Need to Know
As a newly practicing dentist, investing early can help you achieve your financial goals and grow your savings through the ...
Registered Retirement Income Fund (RRIF)
Keep your investments growing in retirement
With a RRIF You Can:
Roll over your RRSP funds tax-free into an investment account
Tailor your retirement income withdrawals to your needs
Take advantage of income-splitting
Choose from a broad range of CDSPI investment funds
Gain These Advantages from the RRIF
Leading fund managers
With management styles to match your objectives.
A wide range of funds
Designed to meet all your needs, including money market, bond, dividend, domestic and international equity funds, as well as guaranteed funds (equivalent to term deposits) and Managed Risk Portfolios (wrap funds).
Extra security
Segregated investment funds protect your investments from claims of creditors when you meet certain conditions.
Extremely low management fees
Ranging from 0.65 to 1.77 per cent1 depending on the fund selected — and no loads or routine service charges2 that can put a drag on your returns.
Professional assistance
At no cost in setting up your plan and making investment choices* — with no sales pressure
Eligibility
You are eligible to participate in this RRIF if you are a member of the CDA or a participating provincial or territorial dental association (in Quebec, only CDA members are eligible) or if you work for a dentist who is a member of one of those associations. Your immediate family members can also participate. Staff members of the CDA, all provincial and territorial dental associations and other specified dental organizations can participate as well.
Application
Open a RRIF by filling out an application form, or transfer proceeds from another institution to CDSPI by also filling out a transfer of registered investments form.3
You can also transfer locked-in retirement savings to a Life Income Fund (LIF) or Locked-In Retirement Income Fund (LRIF) or Prescribed Retirement Income Fund (PRIF), depending on the applicable provincial pension legislation.
Investment Resources
Passing Down the Family Cottage: An Interview with Shawna Perron
For many families, cottages are more than just a valuable asset-they're a place where memories are made, traditions are carried ...
Don’t Pay Unnecessary Taxes: 6 Tax Minimization Tips for Dentists for 2024
No one wants to pay unnecessary taxes. Keep more of your hard-earned income by planning ahead. Here are six tailored ...
A new Cash back + Free trades offer from Qtrade
Qtrade has a new and exciting cash back + Free Trades Offer starting November 28, 2024. Get up to 5% ...
Five Key Financial Considerations for Dental Grads
Contributed by: MNP As new dental graduates embark on their careers, equipping them with financial knowledge sets them up for ...
Consider Making Your Corporation Part of Estate Planning
Is your estate plan in order? You may already have certain elements in place, like a will, insurance and power ...
Customize Your Retirement: Consider an Individual Pension Plan (IPP)
Only you know what you want your retirement to look like. If your practice is incorporated and you are looking ...
Demystifying Trust Funds for Dentists
For many high-income earners, trust funds can provide long-term financial flexibility that creates many options for sharing and preserving wealth ...
Interest Rate Hikes Spark Interest in Annuities
A safe Investment Solution for Guaranteed Income How would you like to have an investment that is considered safe and ...
We're Here to Help
1 Management fees are subject to applicable taxes.
2 Surcharges may be levied for short-term trading.
3 The minimum initial purchase per investment fund is $50; the minimum additional purchase per investment fund is $25; the minimum pre-authorized contribution per investment fund is $25 (with the exception of Guaranteed Funds, which are subject to a minimum $500 deposit).