Registered Retirement Savings Plan (RRSP)

A Registered Retirement Savings Plan (RRSP) is a government approved plan that helps you save money for your retirement. RRSPs are an effective plan which may lower your taxable income while allowing your investment to grow tax sheltered.  The additional benefit to an RRSP plan is that when you withdraw the money you may be doing so at a tax rate that is lower than what you pay now, which could mean additional tax savings.   All withdrawals from an RRSP plan are subject to withholding tax.  At the age of 71 the RRSP may be converted into a Registered Retirement Income Fund (RRIF) to continue the tax deferral.

Anyone, including non-residents, who have earned income subject to Canadian taxation, may contribute to an RRSP.

You can also contribute to a plan in your spouse’s name. A spousal RRSP is ideal for married or common-law partners who are in different tax brackets now and possibly in retirement. The contributing spouse or common-law partner benefits from the immediate tax deduction while the plan holder benefits from the growing retirement savings.

Limits to RRSP contributions are based on your previous years earned income. You can carry forward any unused portions. This information is on your Notice of Assessment from Canada Revenue Agency.

RRSP: Variable

The Variable RRSP is a cashable tax-sheltered investment with a competitive variable interest rate. This is a flexible investment allowing you to deposit or redeem at any time.  More   

RRSP: 1 – 60 month Term Deposit

The Term Deposit RRSP is a tax-sheltered, non-redeemable investment with competitive interest for a fixed period.  Since the rate is locked-in, you know what your growth will be.  More

RRSP: CU Bonus Builder®

The Bonus Builder RRSP is a tax sheltered 5 year non-redeemable RRSP with an escalating interest rate that is available from January 15 until March 1of each year.  The escalating interest rate allows you to take advantage of increased rates and since the rate is locked-in, you know what your growth will be. More    

RRSP: Index Linked Deposit

The Index Linked RRSP is a tax-sheltered non-redeemable investment with the potential for growth like a stock market investment while maintaining the security of a term deposit. This product offers returns based on the performance of individual stocks within an equity basket.  The rate of return is linked to the average monthly performance of the product offering and is paid at the end of the term.  More

RRSP:  Mutual Funds

Mutual funds are a popular way to invest because you can choose your own style of investing - aggressive or conservative, domestic or foreign, short-term or long-term.  More

RRSP:  Brokered Stocks, Bonds and Mutual Funds

Choose from a wide selection of stocks, bonds and mutual funds brokered through our partner Credential Securities' office.   More

Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.

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