RRSP – Registered Retirement Savings Plan

RRSP – Registered Retirement Savings Plan

With an RRSP, you save for your retirement while enjoying income tax savings each year that you contribute.

Our IAG Savings and Retirement Plan offers a wide range of investment fund options. A financial advisor can help you to pinpoint your needs and find the solution that is right for you.

Contact Customer Service


Characteristics and advantages of an RRSP:

  • Maximum contribution limits can reach an amount equal to 18% of income earned the previous tax year or a fixed ceiling if your income is high. 
  • Unused contributions can be carried forward year after year. 
  • All contributions are deducted from your taxable income, which lowers the tax you pay and can make you eligible for a refund. 
  • Income earned in your RRSP is not taxed until it is withdrawn. 
  • Funds in the RRSP can be used to help you buy or build your first home (Home Buyer’s Plan) or to go back to school (Lifelong Learning Plan). 
  • Upon retirement or, at the latest, the year you turn 71 years of age, you must convert your RRSP to a Registered Retirement Income Fund (RRIF)  or an alternate retirement savings vehicle.

What is the best way to maximize your RRSP contributions?

Taking out an RRSP loan is a brilliant way to make your savings grow.

Why choose an RRSP with us?

Our IAG Savings and Retirement Plan allows you to invest wisely in your RRSP. It is designed for all types of investors, from those who like to play it safe to those who like to take risks. Furthermore, it offers you the choice of the following investment funds:

  • Segregated funds 
  • Guaranteed interest funds 
  • Daily interest funds 
  • Mutual funds

Thanks to our segregated funds, we offer exceptional investment protection if the markets go down.

You can also invest your RRSP in securities.

Compare different savings plans to find the one that is right for you

Eligibility age Age limit to contribute Contribution ceiling Tax-deductible contributions Tax-sheltered accumulation Tax payable upon withdrawal or at the end of the year Unused contributions can be carried forward
RRSP 18 71
TFSA 18 None
Non-Registered Savings Plan 18 90 Does not apply