You cannot contribute directly to a RRIF. Funds can be transferred from an RRSP, another RRIF, a Registered Pension Plan, a Deferred Profit Sharing Plan, or a commuted RRSP annuity.
Some RRIFs are similar to continuing an RRSP, with the exception that you must take some taxable pay­ments from the RRIF. You can choose any payment level, as long as the total each year is at least equal to the mandatory minimum amount. There is no maxi­mum payment level. With many RRIFs you can fluctu­ate your payments up or down above the minimum from year to year. Obviously the higher the payments you take, the sooner your funds will be depleted. RRIFs can continue for the lifetime of the holder or their spouse.