With today’s economy, saving for education, retirement or even your daughter’s wedding day is almost impossible without a dedicated effort. (We can make that effort seem effortless!) We can set you up with an automatic savings program where the funds are automatically deducted from your chequing and put into savings. Putting away money every two weeks (or as often as you'd like) using a preauthorized contribution can really pay off.
What is a Preauthorized Contribution (PAC)?A preauthorized contribution is simply an automatic transfer from your chequing account to another account, typically a TFSA, RRSP, or savings account.
- It can be set up for any day of the month, but you can choose to have it done on days that coincide with your paycheque.
- It can be arranged to be weekly, biweekly, semi-monthly, monthly, quarterly, semi-annually or annually or on a set date each month.
- You can change the frequency and amount at any time.
We do the work for you; once your PAC is set up you won't have to think about transferring the money yourself. Just watch your savings grow! Talk to us about setting up your own PAC today.
Want to set up a PAC but would email us to get started? Let us know by sending an email to firstname.lastname@example.org. We’ll be in touch soon!
Have Questions? Don't hesitate to contact one of our Investment Specialists!