Personal Products & Services > Investments > RRSP

What is an RRSP?

A Registered Retirement Savings Plan is a government approved plan through which you save money for your retirement years. Your contributions, within limits, are tax deductible, and the income earned is tax sheltered. An RRSP enables you to invest money when you can most afford it – during your peak earning years – to build up a comfortable retirement fund.

Who is Eligible to Contribute?

Anyone with "earned income" subject to Canadian taxation, including non residents, may contribute to an RRSP. Even if you are not taxable, you should file a tax return to report your earned income and create RRSP deduction room.

You can make part or all of any contribution to a plan in your spouse’s or common-law partner's name. You, as the contributor, are still entitled to the tax deduction. Contributions can be made until the end of the year in which the planholder’s 69th birthday occurs. An over-contribution can be carried forward beyond this year and deducted in subsequent years providing you have earned income on which to base the deduction.

RRSP Investment Options

Variable Rate RRSP
This type of RRSP ensures that your investment keeps pace with current interest trends. Interest rates are reviewed and adjusted regularly so you benefit from the most competitive rate.

Fixed Rate RRSP
A Fixed Rate RRSP provides the security of knowing your rate of return is guaranteed for a fixed period of time. You can choose the term that best fits your plans.

Current Competitive Rates & Terms

Resource Information - get a copy of these detailed product brochures at any branch.

Understanding the Basics – RRSP. RRIF. Annuity. LIF. LRIF
Taking Control of your Future – RRSPs
Knowing Your Retirement Income Options Designations on RRSPs & RRIFs – Facts to Consider
Planning for Your Retirement

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