Registered Retirement Savings Plan (RRSP)

An RRSP is a government-approved plan that encourages people to save for their own retirement years. Your contributions are tax deductible and the plan's earnings are tax-sheltered.

As a member of a credit union each individual RSP plan carries deposit insurance to $100,000. This means that all of your RSP funds carry this added security. There is no limit to the number of plans you have.

Anyone with earned income or unused contribution room up to the end of the year in which they turn 71 years of age, may contribute to an RRSP. Your RRSP must mature before the end of the calendar year in which you turn 71. At that time your RRSP can be converted to a retirement income option such as a Registered Retirement Income Fund (RRIF), Term Certain Annuity to Age 90 or Life Annuity. A representative will contact you to discuss your retirement income options. Call us for our FREE information booklet, "The Basics", which defines many details.

RRSP Savings

This daily interest account pays interest every June and December. Periodic deposits of as low as $10 are allowed to help people use payroll deposit or direct deposit to save and build their retirement savings.

RRSP GICs

These are offered for amounts of $1,000 or more for terms of one, two, three, four, or five years. The interest is compounded annually.

DEPOSIT INSURANCE IDENTITY THEFT INVESTING RATES SERVICE FEES

Life Events Calculators:

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