RRSPs

A RRSP, or Registered Retirement Savings Plan, is a government approved plan designed to help you save money for your retirement years. Your contributions, within limits, are tax deductible, and the income earned is tax sheltered. When you are investing in an RRSP, you are investing at a time when you can most afford it - during your peak earning years.

Not only do you invest money that would otherwise be paid in taxes, but also the earnings of your plan are not taxed until they are withdrawn. The growth of your RRSP will increase rapidly over the years, as 100% of your contribution is reinvested and compounded.

Who is eligible to contribute? Expand/Collapse

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. Also, 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 plan holder's 71st birthday occurs. In addition, you have the first 60 days of the calendar year to invest in an RRSP for the prior year’s worth of taxable income.

G&F investment options Expand/Collapse

  • Variable Savings RRSP
  • High Interest Savings RRSP
  • RRSP Market-Linked Term Deposits
  • Short Term RRSP
  • Fixed Rate Term RRSP
  • Profit Savings RRSP
  • RRSP Featured Promotions

 

 

RRSP loan Expand/Collapse

If you are interested in contributing to an RRSP, but are low on funds, you can try an RRSP Loan.