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What is an RRSP?

A Registered Retirement Savings Plan is a government-regulated account with special tax benefits to help you grow your retirement savings faster. It can hold a variety of assets, including cash, mutual funds* and term deposits.

What are the benefits of an RRSP?

Pay less tax today

You can deduct your annual RRSP contribution from your gross income to reduce the tax you owe each year.  

Defer tax on interest earned

The interest you earn is tax-sheltered until you retire and withdraw money – at which point you’ll likely be in a lower tax bracket. 

Borrow for your needs

You can withdraw money without penalty to buy your first home or pay for education, as long as you repay it within 15 years. 

Get personalized retirement planning

Make sure you’re ready to retire your way. Our expert retirement planners will help you define what your ideal retirement looks like and offer the genuine, personalized advice you need to achieve it. No cookie-cutter, one-size-fits-all solutions here. 

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Not sure how much to save for retirement?

Try our retirement planning calculator to see how much you’ll need to save to achieve your retirement dreams.

Other investing options you may like

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Ideal if you want to save for life’s big goals tax-free.

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Ideal if you want to save for a child’s education. 

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Ideal if you want professionally managed investments.

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Ideal if you want to invest your money worry-free.

*Mutual funds are offered through Credential Asset Management Inc.


Getting ready to retire?

Let us help you maximize your retirement savings as your RRSP converts into a Registered Retirement Income Fund (RRIF).