Registered retirement savings plan (RRSP)
With an RRSP, you will save for retirement while saving on your taxes every year in which you make contributions. According to Statistics Canada, for households in higher tax brackets (higher incomes), an RRSP would be more profitable than a TFSA and should be maximized first.1
Because your situation is unique, our financial security advisors can help you determine your needs and help you find the best solution for your situation.
Discover the benefits of an RRSP
- Grow your savings tax-free: your contributions and the earnings they generate are not taxed as long as they stay in the RRSP.
- Contributions are deducted in full from your taxable income, which entitles you to tax refunds.
- The sums accumulated can be used for retirement, but also to buy or build a home, thanks to the Home Buyers' Plan, or to pay for your education if you go back to school thanks to the Lifelong Learning Plan.
Choose iA for your RRSP
- Guaranteed interest funds, which offer a fixed, guaranteed interest rate
- Daily interest fund, where interest accumulates every day and is paid monthly
- Mutual funds, which fluctuate according to the market value of investment securities
RRSP contribution limits
You can contribute up to 18% of your income or a fixed limit if you have a higher income. Unused contribution room can be carried forward year after year
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|
|Non-Registered Savings Plan||18||100 2||Does not apply|