Jalen just turned $71$ years old on December $16,2023.$ He knows nothing about personal income taxes and has always relied on his accountant and investment advisor to look after him. He is not too clear on what was said or by which advisor but he remembers one of them mentioning that he needed to take action on his Registered Retirement Savings Plan $($RRSP$)$ before the end of the year. He also can't remember what was said about the different conversion options but remembers that one of the options was not tax$-$efficient. Which is the least tax$-$efficient?

Select one:

O a$.$ Purchase a term annuity.

$$ b$.$ Withdraw the RRSP$.$

$$ c$.$ Transfer the funds to a Registered Retirement Income Fund $($RRIF$).$

$$ d$.$ Transfer to a registered annuity.