RRSP
- government approved Registered Retirement Savings Plan
through which you save money for your retirement while deferring income tax.
available in variable or fixed rate plans
each RRSP is covered for up to $100,000 per contract through the Deposit Insurance Corporation of Ontario
during January and February we offer instant tax receipt for your convinience
Variable Rate RRSP
this plan may be used for automated/periodic deposits to your RRSP
flexible investment (plan can be cashed in full or partial withdrawals available)
interest rates adjusted frequently to be competitive
interest accrues daily and it is compounded semi-annually, June 30th & December 31st
Fixed Rate RRSP
a Guaranteed Investment Certificate (GIC) with fixed rates for one to five year periods (special periods offered from time to time)
interest is compounded annually RRIF - Registered Retirement Income Fund
regular contribution to RRSP will result in substantial accumulation of savings
government regulations require all RRSPs to be converted to Registered Retirement Income Fund
during the year you turn 69
RRIFs are available in one (1) to five (5) year terms. RRIFs allow you to choose and vary the income frequency payment and amount, as long as minimum mandatory payment set by the government is met.
Each RRIF is covered for up to $100,000 per contract through DICO.
