What is a RRIF?
What is a RRIF?
A registered retirement income fund (RRIF) is a tax-deferred retirement plan under Canadian tax law. Individuals use a RRIF to generate income from the savings accumulated under their registered retirement savings plan (RRSP).
A registered retirement income fund (RRIF) is a tax-deferred retirement plan under Canadian tax law. Individuals use a RRIF to generate income from the savings accumulated under their registered retirement savings plan (RRSP).
What Makes a RRIF Halal?
What Makes a RRIF Halal?
An RRIF is just an account with some tax rules around it. It is how the money that is deposited into this account gets invested that will make it Halal or not. The focus here should not be the account type but the underlying investments. As long as that cash is being used to buy Shariah-compliant investments such as the Manzil Invest Portfolios then your investment is Halal.
An RRIF is just an account with some tax rules around it. It is how the money that is deposited into this account gets invested that will make it Halal or not. The focus here should not be the account type but the underlying investments. As long as that cash is being used to buy Shariah-compliant investments such as the Manzil Invest Portfolios then your investment is Halal.
Halal Certified RRIFs
Halal Certified RRIFs
These Shariah compliance certificates issued by Manzil's Shariah Supervisory Board ensure that Manzil's Invest Portfolios, products and services comply with the Shariah standards set by AAOIFI.
These Shariah compliance certificates issued by Manzil's Shariah Supervisory Board ensure that Manzil's Invest Portfolios, products and services comply with the Shariah standards set by AAOIFI.
Investment fund and portfolio management services are provided by OneVest. All portfolio holdings and performance data are sourced from OneVest.
Investment fund and portfolio management services are provided by OneVest. All portfolio holdings and performance data are sourced from OneVest.
Benefits of a Halal RESP
Benefits of a Halal RESP
01
It’s Halal
The money you put in your Joint Investment account gets invested into the Manzil Halal Portfolios. This means your money is not just growing, but you can both sleep peacefully at night knowing it’s growing through Halal means.
02
Flexibility
You have the flexibility to choose how much income you want and how frequent that income is paid to you.
03
Avoid huge tax bills
You’re required to close your RRSP at 71 which can contain large amounts of money by that time. Converting to a RRIF means that you won’t have to cash out the entire account and pay a huge tax bill that year.
04
Keep on growing
Whatever you keep in your RRIF account keeps growing through the Manzil Halal Portfolios tax-free.
So much more than Manzil Invest
Disclaimers:
* Manzil Invest is a strategic partner of OneVest Management Inc. (“OneVest”). OneVest offers wealth management products and services to Manzil customers. OneVest Management Inc. is registered as a Portfolio Manager in each of the provinces and territories of Canada, and as an Investment Fund Manager in the provinces of Alberta, Ontario Quebec, and Newfoundland and Labrador. Upon opening your account, OneVest will determine what investments are suitable for you.
** This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
*** Your capital is at risk with any type of investment. Past performance is not a guarantee of future results or success. Please read OneVest’s investment risk disclosure for more information.
So much more than Manzil Invest
Disclaimers:
* Manzil Invest is a strategic partner of OneVest Management Inc. (“OneVest”). OneVest offers wealth management products and services to Manzil customers. OneVest Management Inc. is registered as a Portfolio Manager in each of the provinces and territories of Canada, and as an Investment Fund Manager in the provinces of Alberta, Ontario Quebec, and Newfoundland and Labrador. Upon opening your account, OneVest will determine what investments are suitable for you.
** This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
*** Your capital is at risk with any type of investment. Past performance is not a guarantee of future results or success. Please read OneVest’s investment risk disclosure for more information.
So much more than Manzil Invest
Disclaimers:
* Manzil Invest is a strategic partner of OneVest Management Inc. (“OneVest”). OneVest offers wealth management products and services to Manzil customers. OneVest Management Inc. is registered as a Portfolio Manager in each of the provinces and territories of Canada, and as an Investment Fund Manager in the provinces of Alberta, Ontario Quebec, and Newfoundland and Labrador. Upon opening your account, OneVest will determine what investments are suitable for you.
** This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
*** Your capital is at risk with any type of investment. Past performance is not a guarantee of future results or success. Please read OneVest’s investment risk disclosure for more information.
Products
Services
Manzil Mortgage Services Inc. holds the following licenses: Ontario # 13411, British Colombia # MB601417, Saskatchewan # 512027, Nova Scotia # 2022-3000552, and Alberta.
© 2024 All rights reserved. Manzil is a registered trademark
Products
Services
Manzil Mortgage Services Inc. holds the following licenses: Ontario # 13411, British Colombia # MB601417, Saskatchewan # 512027, Nova Scotia # 2022-3000552, and Alberta.
© 2024 All rights reserved. Manzil is a registered trademark
Products
Services
Manzil Mortgage Services Inc. holds the following licenses: Ontario # 13411, British Colombia # MB601417, Saskatchewan # 512027, Nova Scotia # 2022-3000552, and Alberta.
© 2024 All rights reserved. Manzil is a registered trademark