Registered Retirement Savings Plan (RRSP)

Invest savings for retirement and grow them tax-free.

Is this savings plan for you?

  • You want to invest savings to supplement your retirement income sources.
  • You are looking to reduce your taxable income and benefit from tax savings.
  • You want to grow your savings tax-free.
  • You want to choose from the different types of investments eligible for RRSPs based on your risk tolerance and investment objectives.
Outlines

Account type :Regular savings, guaranteed fixed-rate investment, market-linked guaranteed investment, investment funds

Return paid :Varies according to the product (account type)

Fees :None

Tax advantages :RRSP contributions reduce your taxable income, can reduce your tax bill and allow you to accumulate your savings tax-free until you retire or until the completion of your projects.

Maximum age to contribute to an RRSP :71 years

Type of plan :RRSP (Registered Retirement Savings Plan), LIRA (Locked-in Retirement Account), LRSP (Locked-in RRSP)

Maximum annual contribution :18% of your salary earned the previous year, up to a maximum of $26,500 for 2019.

Features

All RRSP eligible investments

Choose from our various RRSP investments according to your risk tolerance and investment objectives.

Regular Savings Account Account to accumulate funds through a single deposit or scheduled periodic instalments
Guaranteed fixed-rate investments Investments with capital 100% guaranteed and a fixed interest rate guaranteed until maturity
Market-linked guaranteed investments Guaranteed capital investments with returns based on a stock market index or portfolio of financial assets
Investment Funds Funds that help you diversify your portfolio and benefit from the expertise of seasoned fund managers

Get the most out of your RRSP

18 %
  • Percentage of your income that you can contribute to an RRSP every year
March 1
  • Deadline to contribute to your RRSP; covers the calendar year and the first 60 days of the following year
26 500 $
  • Contribution limit for an RRSP for 2019
71
  • Maximum age to contribute to an RRSP

Contribute by regular instalments

To contribute a significant amount annually without straining your budget, just contribute throughout the year and avoid the February rush. This way, your capital will be in a tax shelter for a longer period of time since your contributions will earn interest from day one.

Select the regular instalment plan where your contributions are withdrawn directly from your account. You’ll see: a few dollars each week or month will add up.

Cash RRSP contribution

To contribute once at the end of the year or to shelter capital such as bonuses, vacation pay, retirement allowance, etc., your contributions can be made directly into your RRSP, with no deductions at source.

Products to which you can contribute cash:

  • RRSP Regular Savings (RRSP RS): to contribute to your RRSP whenever you decide to, depending on your budget. The funds that accumulate in this account can be reinvested in another RRSP product of your choice.
  • Guaranteed fixed-rate investments (term savings, redeemable, diversified, rate raiser): for risk-free capital growth.
  • Market-linked guaranteed investments: to invest in Canadian or international markets risk-free.
  • Investment Funds: to invest in Canadian or foreign shares, bonds, mortgage securities or money market securities.

 

More information

Interested in contributing by regular instalments?

  1. Authorise your Caisse to withdraw the amount you choose as often as you like.
  2. If you already have an RRSP Regular Savings Account, you can log on to AccèsD and set up the instalments to be made in advance at the frequency you want.

No need to give it another thought – transfers are made automatically.

You can change the amount and frequency any time you wish.

All you have to do is choose the investment vehicle you want.

This is how your contributions can grow in an RRSP-eligible savings products with a rate of 0.5% per year.

Calculations are based on an investment at the start of the period.

Weekly $10 contribution

Time span Capital invested Value of RRSP
After 5 years $2,400 $2,946
After 10 years $5,200 $6,706
After 20 years $10,400 $17,629

Weekly $50 contribution

Time span Capital invested Value of RRSP
After 5 years $12,000 $14,703
After 10 years $26,000 $33,529
After 20 years $52,000 $88,145

When you opt for regular instalments, you don’t have to struggle to find the best time to invest; your instalments are transferred from your account on the scheduled date. You don’t have to worry about a thing!

Do you prefer investment funds*?

Share prices fluctuate over time. Regular instalments are recommended because they let you take advantage of these price fluctuations.

E.g.: You invest $100 a month in an investment fund, where each share is worth $10 at the start of the year. The price varies from month to month. The following table presents a fictional account that illustrates the advantage of average prices. Since your return is based on average cost, you come out ahead!

Month Instalment Price per share Share pruchased
January $100 $10.00 10,000
February $100 $9.50 10,526
March $100 $9.00 11,111
April $100 $9.75 10,256
May $100 $8.75 11,429
June $100 $9.25 10,811
July $100 $8.00 12,500
August $100 $7.50 13,333
September $100 $8.50 11,765
October $100 $8.75 11,429
November $100 $9.75 10,256
December $100 $10.25 9,756
Total $1,200 133,172
Final value $1,365.02
Average cost $9.01

* Mutuals 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 fund securities and cash balances are not insured nor guaranteed, their values change frequently and past performance may not be repeated.

See Frequently asked questions about RRSPs (FAQ)

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