RRSPs & RRIFs
Retirement planning is something you should consider as soon as you enter the workforce and are earning a regular income
The sooner you get started, the more exponential the growth, but it's never too late to start.
A Registered Retirement Savings Plan (RRSP) is an account, registered with the federal government, that you use to save for retirement.
There is a wide variety of investment options available for RRSPs including:
- Mutual funds,
- Index-Linked products &
- Labour Sponsored Funds.
There are a number of benefits to saving in an RRSP:
Unsure about how much you should be contributing?
Try our retirement calculator and find out what you should be saving now to reach your retirement savings goals.
Mutual funds are offered through Credential Asset Management 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 nor guaranteed, their values change frequently and past performance may not be repeated.
A Registered Retirement Income Fund (RRIF) is an account registered with the federal government that gives you a steady income in retirement.
When you are ready to retire and start using the funds you saved in your RRSP, you can transfer those funds to a RRIF account in order to make withdrawals and use it as your retirement income.
Some benefits of a RRIF include:
If you' are planning to retire within the next few years don't wait until the last minute to develop a retirement income strategy.
From asset mix decisions to income withdrawal strategies, there are many factors to consider when converting from a retirement savings plan to a retirement income plan.
Mutual funds are offered through Credential Asset Management Inc.Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth 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 nor guaranteed, their values change frequently and past performance may not be repeated.
Speak with one of our investment advisors to determine the retirement income options that will best suit your retirement needs.
The sooner you start saving for retirement, the faster your account will grow, thanks to compounding interest.
The easiest way to get started is to set up a pre-authorized contribution (PAC) to be automatically withdrawn from your account to your RRSP on a schedule that is convenient for you.
You will be investing in your future without having to worry about it!
Borrowing for Your RRSP Could Help You Build a Secure Retirement
A RRSP Loan is a great way to maximize your RRSP if you haven't reached your contribution limit. Take advantage of the tax benefits today as you save for your retirement.