Retirement Savings (RRSP) Builder Account

Easy and affordable way to make regular contributions to your RRSP.

Interest rate

Competitive

Offline Purchase Instructions

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Details

Overview

Save money for your retirement with the tax deferral advantages of an RRSP. Set it and forget it! Enjoy the ease of saving — regularly — in many different investment options. You set the amount to save from your pay cheque, and choose from weekly, bi-weekly or monthly contributions. See your money grow with little effort!

You are eligible to contribute to an RRSP if you are currently working in Canada and you:

  • are under the age of 71
  • have contribution room
  • file income tax with the Canadian government

Pricing

  • Interest earned
  • Fees
    No fees.
  • Cashability
    • Withdraw your funds at any time, however, a withdrawal tax may apply.
  • Investment Plan
    • An RRSP is one of the best ways to save for retirement and save on taxes at the same time. An RRSP is a government-approved account specially designed to help you save money for your retirement. There is a limit to how much you can invest each year, and that limit—called an RRSP contribution limit—is based on your income.

Additional Information

  • Other features
    • Any contribution you make (up to your annual limit) is tax deductible, offering you immediate tax savings.
    • Your contribution room never expires, so you can carry it forward.
    • You can put part or all of your RRSP contributions into a plan in your spouse's or common-law partner's name.
    • The interest you earn on your contributions stays in your RRSP. You don't pay tax on it until you take it out of the plan. Even though you can withdraw RRSP money whenever you like, the idea is to keep your money in the plan until you retire. Usually withdrawals are treated as income, which means you'll pay tax on the money when you withdraw it.
    • In the year you turn 71, your RRSP matures. Don't worry about getting a big tax bill. You have a number of retirement income options that allow your retirement savings to continue to grow in a tax-sheltered environment. Only payments to you from your plan are immediately taxed. So you can spread the tax on withdrawals over your retirement years.

Details

Overview

Save money for your retirement with the tax deferral advantages of an RRSP. Set it and forget it! Enjoy the ease of saving — regularly — in many different investment options. You set the amount to save from your pay cheque, and choose from weekly, bi-weekly or monthly contributions. See your money grow with little effort!

You are eligible to contribute to an RRSP if you are currently working in Canada and you:

  • are under the age of 71
  • have contribution room
  • file income tax with the Canadian government

Pricing

  • Interest earned
  • Fees
    No fees.
  • Cashability
    • Withdraw your funds at any time, however, a withdrawal tax may apply.
  • Investment Plan
    • An RRSP is one of the best ways to save for retirement and save on taxes at the same time. An RRSP is a government-approved account specially designed to help you save money for your retirement. There is a limit to how much you can invest each year, and that limit—called an RRSP contribution limit—is based on your income.

Additional Information

  • Other features
    • Any contribution you make (up to your annual limit) is tax deductible, offering you immediate tax savings.
    • Your contribution room never expires, so you can carry it forward.
    • You can put part or all of your RRSP contributions into a plan in your spouse's or common-law partner's name.
    • The interest you earn on your contributions stays in your RRSP. You don't pay tax on it until you take it out of the plan. Even though you can withdraw RRSP money whenever you like, the idea is to keep your money in the plan until you retire. Usually withdrawals are treated as income, which means you'll pay tax on the money when you withdraw it.
    • In the year you turn 71, your RRSP matures. Don't worry about getting a big tax bill. You have a number of retirement income options that allow your retirement savings to continue to grow in a tax-sheltered environment. Only payments to you from your plan are immediately taxed. So you can spread the tax on withdrawals over your retirement years.

Important Information

Interest rate

Competitive

Offline Purchase Instructions

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