Savings pays off!
The RRSP is the smart way to save for retirement. Contribute by March 2 to reduce your taxes and grow your money. Online or with an advisor: it is simple, fast and beneficial.
Contribute on My Profile Find an advisorWhat is an RRSP?
The Registered Retirement Savings Plan (RRSP) allows you to accumulate tax-sheltered savings for retirement while reducing taxable income at the time of contribution. The annual contribution limit is up to 18% of your previous year’s income, with a ceiling set by the Government of Canada.
Benefits of an RRSP
- ✓ Reduced taxable income for 2025
- ✓ Income tax deferral until retirement
- ✓ Tax-sheltered investment growth
Who is it for?
- ✓ Résidents canadiens détenant un numéro d'assurance social (NAS). Canadian residents with a Social Insurance Number (SIN).
- ✓ People who have earned income and filed a tax return in Canada.
- ✓ People under the age of 71, or until December 31 of the year they turn 71. After this date, the RRSP will be converted. More details here.
Please note! Technically, it is possible to withdraw funds at any time. However, withdrawals are taxable as regular income in the year they are made, unless the amount withdrawn is used for a Home Buyers’ Plan (HBP) or a Lifelong Learning Plan (LLP).
Tip
Contribute to an RRSP on My Profile
Since this plan is designed primarily for retirement, it is recommended that you assess your needs and explore all savings options. You can open and contribute to an RRSP on My Profile.
Contribute today See the tutorial
How can you grow your RRSP?
An RRSP’s growth largely depends on the investment strategy you choose. By working with an advisor to draw up a personalized plan, you can optimize your investments through vehicles such as guaranteed fixed-rate investments or mutual funds to achieve your retirement goals.
Guaranteed fixed-rate investments
Also known as term deposits or term savings, guaranteed fixed-rate investments are short- or long-term investments that offer a fixed and guaranteed return at maturity. In other words, with a guaranteed fixed-rate investment, you know in advance exactly how much you will get back at the end of the investment period, regardless of how the financial markets perform.
Benefits of guaranteed fixed-rate investments
- ✓ Maximum security: Your investment and interest are guaranteed
- ✓ Peace of mind: No unpleasant surprises
- ✓ Guaranteed fixed rate: Interest rate does not change throughout the term of the investment
Need to grow your RRSP with peace of mind?
or call 1 888 359-1357
Mutual funds*
A mutual fund is kind of like a giant piggy bank for investments. Everyone puts their money in to make it grow. The money is then invested in different types of investments (stocks, bonds, etc.) by an investment fund manager and a whole team of experts.
Benefits of a mutual fund*
- ✓ Variable security: Variable investments and interest rates
- ✓ Higher potential yields: Yields may be higher
- ✓ Long-term investment: It is best to be patient, as market fluctuations are all part of the game
- ✓ Expert help: Need advice? Aviso Wealth investment advisors are here to help
Mutual funds allow you to diversify and optimize your RRSP.
Our Aviso Wealth investment advisors have the expertise to help you build a customized portfolio.
or call 1 888 359-1357
Good to know: If you have any questions or would like to learn more about the benefits of RRSPs, the staff at our business locations are here to help.
RRSPs versus other registered plans
A Registered Retirement Savings Plan (RRSP) is a fundamental savings tool. As with the TFSA and FHSA, investments grow tax-free. RRSPs also allow you to make non-taxable withdrawals for the purchase of a first home (HBP) or for going back to school (LLP), but all other withdrawals are taxable.
*Certain conditions apply.
Frequently asked questions
When should I start contributing to an RRSP?
Can I borrow money from my RRSP for education?
How much money will I need when I retire?
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How can I prepare for retirement?
Financial advisors and planners can help you achieve various goals, including retirement. The most important thing is to save the right amount, at the right time and with the right investment vehicle.
Find an advisorHere are three ways to make it happen:
- ✓ Make contributions independently on My Profile
- ✓ Set up automatic transfers
- ✓ Meet with an advisor in-person to weigh all your options
Need help? Contact us at 1 888 359-1357