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Reach your goals with our savings plans
Whether you’re looking to buy a home, plan for a trip or build your retirement income, you’ll find a range of products to help you reach your goals.
Discover the advantages of our various savings plans such as RRSPs, TFSAs, IPPs, LIRAs and non-registered plans. Got questions? A financial security advisor can help you select the product or products that will allow you to reach your goals.
Our savings plans
RRSP
Registered retirement savings plan
An RRSP can help you save money for your retirement, tax-free. Additionally, contributions to an RRSP lower your taxable annual income, which means that you enjoy tax savings.
TFSA
Tax-free savings account
A TFSA is a savings plan that allows you to grow your savings, tax free. It is the perfect solution for your short-, medium- and long-term savings projects, like paying for a trip, buying a home or creating an emergency fund.
IPP
Individual pension plan
An individual pension plan is a defined benefit plan designed for business owners or executives who want to optimize their retirement income. It’s an advantageous option if you want to save more for retirement while reducing your taxes.
LIRA
Locked-in retirement account
Are you on the verge of changing jobs and want to know what will happen to the pension plan you have with your current employer? A LIRA allows you to transfer the money saved in a pension plan with a former employer to an individual plan.
Non-Registered Savings Plan
With this flexible savings plan, you can invest even more for your personal projects and retirement when you have reached your RRSP or TFSA contribution ceiling.
Maximize your investments
There are many strategies to maximize your investments. Sébastien Mc Mahon, our Senior Economist, explains them in this exclusive video.
Tax refund: Do more with less
With inflation soaring, we understand that saving hasn’t been easy.
1st good news
The rise in interest rates is benefitting Guaranteed Interest Funds, which now offer a fixed and guaranteed return of over 4%.
2nd good news
Economists are anticipating a recovery in the markets. So, investing your tax refund while the markets are low, even if it’s less, will allow you to seek a higher potential return.
Here’s how to help you do more with less:
- Secure a fixed and guaranteed return of over 4% with a GIF
- Take advantage of the High Interest Savings Account (HISA), with its return at a historic high in 2023
- Pay off your debts and feel better
- Contribute to an emergency fund (TFSA) to reduce financial anxiety
- Put the magic of the RRSP to work by getting a head start on your 2023 RRSP contributions
It’s all about balance. Give yourself the satisfaction of saving…but feel free to splurge a little!
Compare our savings plans
| RRSP | TFSA | LIRA | Non-Registered Savings Plan |
Individual Pension Plan |
|
|---|---|---|---|---|---|
| Eligible age | 18 | 18 | 18 | 18 | 40 |
| Age limit for contributions | 71 | 1001 | 71 | 1001 | 71 |
| Contribution limit | - | - | |||
| Tax-deductible contributions | - | - | - | For the company | |
| Savings grow tax-free | - | ||||
| Taxable at withdrawal or year end? | Withdrawal | - | Withdrawal | Year end | Withdrawal |
| Unused contribution room can be carried forward | - | - | Under certain conditions |
1. The maximum age for initial investment varies according to the guarantee (series) chosen.
RRSP, TFSA and other saving plans advice
My Retirement: getting ready to live it to the full
We have gathered together all the information you need (articles, advice and tools) on a single site to help you plan for your retirement.
Visit my-retirement.ia.ca