Benefits

How you'll benefit

Start your RRSP early and set yourself up for future success.

Below are the advantages you have with an RRSP.

• Lower your income tax bill today — pay later in your retirement years
• Withdraw money in your retirement years at a lower rate
• Receive gains within an RRSP that are tax sheltered 
• Access funds early to buy a home or to put towards post-secondary education
• Receive fully insured deposits 

Understand RRSPs

Education and Mortgage

Starting an RRSP when you're young can be extremely beneficial
to your other long-term goals.

Why you should start an RRSP young:

1. Education — Using the government’s Lifelong Learning
   Plan (LLP), you can use up to $20,000 in funds from your RRSP to pay tuition for an approved full-time program in Canada. 

2. Homeownership — If you seek homeownership in your
   future, an RRSP can help you get there faster.
   

Using the Home Buyers’ Plan, you are able to use up to $25,000 of
​your RRSP towards the down payment on your first home.