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RRSP, TFSA and other savings plans

NON-REGISTERED
SAVINGS PLAN

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What is a Non-Registered Savings Plan?

A Non-Registered Savings Plan is an investment vehicle that allows you to invest without being restricted by a contribution limit. This flexible option is a great solution for those who have reached their RRSP and TFSA limits but want to continue saving for a project or retirement.

The growth potential of a Non-Registered Savings Plan is generally better than that of a bank savings account and varies according to the nature of its investments. Though it is important to bear in mind that the gains and interest income generated by a Non-Registered Savings Plan are taxable.

The main benefits of a Non-Registered Savings Plan

  • There is no contribution limit, allowing you to extend your saving capacity once you’ve reached the limits of your RRSP and TFSA
  • An ideal solution for businesses, which cannot open registered plans
  • It can generate additional retirement income and you can continue to contribute after turning 71 years old, since, unlike an RRSP, there is no age restriction
  • Your funds are accessible at any time

How do I open a Non-Registered Savings Plan with iA?

I have an advisor

If you already have an advisor, simply contact them to open an account. To find your financial security advisor’s contact information, visit My Client Space, consult one of your statements or contact Customer Service at 1-844-442-4636.

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I don’t have an advisor

Opening a non-registered savings plan must be done with the help of an advisor. You can contact the advisor of your choice today.

Investment types

Our funds are managed by top portfolio managers and follow the most innovative market trends. Different investment options are available based on your investor profile and your risk tolerance.

Segregated funds

Like mutual funds, segregated funds allow you to invest while offering guarantees that protect your investments against market downturns.

Guaranteed Interest Funds (GIF)

With guaranteed interest funds, you benefit from a fixed, guaranteed interest rate for the duration of your investment, ensuring 100% of your capital at maturity.

High Interest Savings Account (HISA)

A HISA earns returns on your savings based on the current interest rate. You can withdraw money at any time, free of charge, and no minimum deposit is required.

Other investment vehicles

You can also opt for a number of other investment vehicles, such as mutual funds*.

*Mutual funds are not part of the IAG Savings and Retirement Plan. They are available through our partner iA Wealth.

Frequently asked questions

The only requirements to open a Non-Registered Savings Plan are that you be a Canadian resident, be of the age of majority in your province of residence and have a social insurance number. There is no age limit to opening a Non-Registered Savings Plan.

Yes. Foreign workers and students, as well as landed immigrants and permanent residents, can open a Non-Registered Savings Plan with iA Financial Group if they live in Canada and have a social insurance number, whether temporary or permanent.

Registered plans, like RRSPs and TFSAs, can provide certain tax benefits that allow you to reduce your taxable income, save tax-free and make tax-free withdrawals.

A non-registered plan does not have these benefits, but there is no limit to the contributions you can make and the funds you invest in it can be withdrawn at any time. That’s why it’s a good option for businesses and for those who want to save beyond the limits of their registered accounts.

Yes. Capital gains and interest income are taxable.

  • For individuals, the first $250,000 of annual capital gains are included at 50% to their income. If the annual capital gains exceed this amount, the part that exceeds is included at 66.67%. When you sell an asset at a profit based on its adjusted cost base, you must include 50% of your total capital gains of $250,000 or less to your taxable annual income and if your annual capital gains exceed $250,000, you must add 66.67% of the exceeding amount to your taxable income. A capital loss is deductible against capital gains only. Note that the capital gain inclusion rate for corporation and trusts is now 66.67%.
  • The interest income earned in, for example, a High Interest Savings Account will be added in full to your annual taxable income.

Yes. Like any investment, the assets in Non-Registered Savings Plans are subject to stock market volatility. The level of risk will vary according to the types of investment you choose based on your investor profile.

You can reduce your risk by having a well-diversified investor portfolio. Where appropriate, you can also choose options that offer guaranteed returns. Don’t hesitate to contact your advisor, who will help you make informed decisions based on your financial goals and situation.

There is no fee for opening a plan, but there are management fees. Management fees vary, especially according to the types of funds you choose and the amount you invest. It’s also possible to benefit from special rates, such as Prestige preferential pricing.

The rate of return varies according to your investments, the state of the market and your investor profile.

You can review the return histories of our different funds and the rates of our GIFs and HISAs on the following pages:

  • Fund performance and overview
  • High interest savings account and guaranteed interest funds

Learn more about savings