The purpose of a RRIF is to provide a retirement income, just like a pension income from your employer. When you turn 65,
all RRIF withdrawals are eligible for the pension income tax credit. RRSP withdrawals�except for a life annuity�are not considered to be retirement income. Therefore, RRSP
withdrawals are not eligible for the pension income tax credit. That�s why when you turn 65, it�s often better to convert all or a portion of your RRSP or RRIF to get tax savings
of $2,000 on your retirement income.