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​Get retirement ready with an RRSP

With a Registered Retirement Savings Plan, you can invest money when you can most afford it – during your peak earning years – to build up a comfortable tax-sheltered retirement fund.

Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA).

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​Enjoy the benefits of an RRSP

 

​Lower your tax – Contributions are tax deductible, so investing in an RRSP will reduce your annual income tax.

Grow your money – Your earnings grow tax-free until you withdraw them in retirement.

Invest what you can – Even small automated payments from your chequing account will add up to a substantial contribution over time, with no stress.

Contribute until you’re 71 – Make annual contributions up to 18% of your income, up to the age of 71.

Borrow from your RRSP – You can borrow a portion of your RRSP to fund continued education or the purchase of your first home.

Hold a number of investments – Qualified investment such as term deposits, investment savings accounts, stocks and mutual funds can be held in your RRSP.

 

Your tax-deductible RRSP contribution for 2023 is 18% of your earned income from the previous year, or $30,780, whichever is lower. 

 

Put the power of investing to work for you

Compare the TFSA and RRSP.

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No matter your retirement plans, we can answer all of your questions and help you maximize your retirement savings. 

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Use our RRSP calculator to estimate how much your retirement savings will be worth when you reach retirement, and how much income you can plan to receive.