RRSP: Variable Rate Deposits
Minimum Deposit $500(new), $500(subsequent)
Option to withdraw funds at any time (fees may apply)
Automatic RRSP contributions available
RRSP: Fixed Term Deposits
Minimum Deposit $1000
1 - 5 year terms
Non-redeemable prior to maturity
Competitive rates guaranteed for the term
RRSP: Mutual Funds
Offered through Credential® Asset Management
Contact us today to find out how you can begin saving for your future - today!
Life is better with a plan..........
Automatic RRSP Contributions are a convenient way to take advantage of an RRSP investment, spreading the cash outflow throughout the year. You simply have an affordable automatic transfer set up from your account to your RRSP contract for a frequency that best suits your financial position(ex: mnthly, wkly, etc.).
RRSP loans can also help provide you with the secure and comfortable retirement you are dreaming of. More
Registered Retirement Savings Plan - RRSP
Registered Retirement Savings Plans were created by the federal government to encourage people to save for retirement with excellent tax saving advantages.
Your contributions to an RRSP, within limits, are tax deductible - saving you tax dollars today. Plus, any income you earn within an RRSP is tax sheltered until withdrawal. RRSP’s can be registered in your own name or as a spousal RRSP to take advantage of income splitting to save you tax dollars during retirement.
Anyone with "earned income" subject to Canadian taxation is eligible to contribute to an RRSP. The maximum RRSP contribution is 18% of your "earned income" subject to annual maximums. Information regarding your RRSP contribution limits can be found on your notice of assessment.
Withdrawals are fully taxable - however, typically Canadians are in a lower tax bracket in their retirement years then they are when earning employment income - saving you tax dollars again! Its a win-win-win scenario! RRSP's must be converted into a RRIF at the age of 71.
There are a variety of options you can choose within a RRSP, let us help you develop strategies to reduce your taxes and get your money working for you .
There are special programs available that some RRSP holders may be eligible for and may want to take advantage of: