RRSPs

This account is for you if:

  • you would like to plan for your future retirement.
  • you do not have a company pension plan.
  • you have a pension plan but could benefit from additional retirement savings.
  • you would like to reduce your taxable income.

Investment Features

  • A Registered Retirement Savings Plan is a government approved plan through which you save money for your retirement years. 
  • Your contributions, within limits, are tax deductible, and the income earned is tax sheltered.
  • Anyone with ‘earned income” and subject to Canadian taxation may contribute to an RRSP.
  • Even if you are not taxable, you should file a tax return to report your earned income and create RRSP deduction room.
  • You can make part or all of any contribution to a RRSP in your spouse’s or common-law partner’s name.  As the contributor, you are still entitled to the tax deduction.
  • Contributions can be made until the end of the year in which the plan holder’s 71st birthday occurs.
  • Your Notice of Assessment from the CRA, received after filing your tax return, will state your RRSP deduction limit for the following year.  The calculation of the amount will depend on whether you are a member of a pension plan, and if you are, the type of pension plan.
  • You may contribute at any time during the year.  Contributions made during the first 60 days of any year may be deducted for the current or the immediately preceding taxation year.
  • After your RRSP contribution has been processed, we will issue an official receipt for tax purposes.
  • Investment options can include a daily savings account, traditional term deposits or index-linked term deposits or non-guaranteed, market-based investments.

Additional Information

  • Easy to set up an automatic transfer from your chequing or savings account to your RRSP.
  • Contributing to your RRSP each time that you get paid is a good way to save for your retirement.
  • A transfer out fee of $50 is applied to RRSPs that are transferred to another RRSP provider.

Ready to invest? Contact a Financial Advisor today!

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In Person

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By Phone

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* Mutual Funds are offered through Credential Asset Management Inc. Commissions, trailing commissions, management fees, and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual funds and cash balances are not covered by Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.
 
RRSP Rates (Rates effective 2017-07-14)
Daily Savings RRSP Account 0.50%
1 Year 0.90%
2 Year 1.10%
3 Year 1.20%
4 Year 1.30%
5 Year 1.60%