RRSPs

Registered Retirement Savings Plan

A Registered Retirement Savings Plan is designed to help you save effectively for a
financially secure retirement. Contributions to a RRSP, within limits, are tax deductible
and the income earned is tax sheltered.

An RRSP can be started as long as you have earned income but must be collapsed by December 31 of the year you turn 71.

RRSP Options:

Variable RRSP

  • No service fees
  • Competitive interest rates offered
  • Interest compounded and paid monthly
  • Interest is calculated on a daily closing balance
  • Deposits have an unlimited guarantee
  • Rate subject to change without notice

Fixed RRSP

  • $100.00 minimum deposit
  • Non-redeemable until maturity
  • Rates are locked in for the length of the term
  • Interest compounded annually
  • Compounding - with regular contributions the amount of money in your plan will increase significantly over time
  • Non-Redeemable investments are offered for a term length of 1-5 years
  • Terms are locked in at time of investment
  • A minimum deposit of $100.00 is required
  • Annual interest payments

 

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