Investing in a Registered Retirement Savings Plan (RRSP) gives you an immediate tax break on the wages you earn today, letting your contributions grow tax-free until you withdraw them.

Benefits of a Registered Retirement Savings Plan (RRSP)

  • Because you pay no tax on investment growth while your money is in an RRSP, your investments compound more quickly, letting you grow your money faster.
  • Contributions to an RRSP are tax deductible, so they lower your annual taxable income and your yearly income tax bill.
  • When it’s time to use the money in your RRSP, converting it to an Registered Retirement Income Fund (RRIF) will give you a steady retirement income while the money still in the plan grows tax-free.
  • Make contributions to your RRSPs and TFSAs online, and withdraw money from your TFSA as well. Visit Transfers Between Your Accounts to learn how to set up transfers online.
  • Income from your RRSP is taxable only when you withdraw it.
  • If you can’t make your maximum contribution every year, unused contribution room can be used in future years.
  • RRSPs offer a choice of investment vehicles, including savings accounts, guaranteed investment certificates (GICs) and mutual funds*.

*Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual fund securities and cash balances are not insured or guaranteed and are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Their values change frequently and past performance may not be repeated. Credential Securities Inc. is a Member of the Canadian Investor Protection Fund.

®Credential and Credential Securities are registered marks owned by Credential Financial Inc. and are used under licence.


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Designation of Beneficiary

Be sure you have decided on and spelled out who should receive your remaining registered savings in the event of your death. And be aware that if you marry or divorce, your Designation of Beneficiary will not be revoked or changed automatically. You must complete a new Designation of Beneficiary form. Don't delay, speak to your account manager soon.