Simply Better RRSPs & RRIFs, and TFSA's

With special tax benefits, RRSPs, RRIFs and TFSAs offer you simple, secure ways to grow your savings faster for your future goals.

Simply Better RRSPs & RRIFs, and TFSA's

With special tax benefits, RRSPs, RRIFs and TFSAs offer you simple, secure ways to grow your savings faster for your future goals.

Explore your registered investment options

Registered Retirement Savings Plan (RRSP)

An RRSP is a government-approved plan that helps you save for retirement. Because it’s tax-sheltered, any investment growth your money earns is tax-deferred until it’s withdrawn in retirement – when you’ll likely be in a lower tax bracket and owe less.

Key benefits

Reduce your tax – Contributions to your RRSP reduce your taxable income, which is especially helpful during your peak earning years.
Grow your savings faster – Because your RRSP is tax-deferred, your earnings will be tax sheltered until you withdraw them in retirement.
Contribute until you’re 71 – Make annual contributions until December 31 of the year you turn 71.
Fund education or a first home – If you want to continue your education or supplement your first down payment, you can borrow a portion of your RRSP savings without penalty.
Flexible investing options – Your RRSP can hold a number of investments, including term deposits.

Registered Retirement Income Fund (RRIF)

An RRIF is a government-approved fund designed to provide retirement income from a matured RRSP. It shelters your savings from tax, while allowing you to withdraw funds as needed when you retire.

Key benefits

Tax-sheltered growth – Your investments continue to grow tax–sheltered, working hard for you into retirement.
Control your income – You can manage the amount and frequency of your withdrawals, subject to the legislated minimum annual payment requirements.
Tax-free transfer to spouse – You can pass your RRIF assets on to your spouse tax-free if you pass away.

Tax-Free Savings Account (TFSA)

A TFSA is a government-approved account that helps you save for any goal – be that a new car, a home or a dream vacation. Because it’s tax-free, you pay no taxes on your investment earnings, ensuring your savings grow faster.

Key benefits

Grow your money faster – Because your TFSA is tax-free, all your investment earnings stay in your pocket.
Use it for any goal – Your TFSA isn’t tied to a specific goal, so you can withdraw money anytime without repaying.
Build contribution room – Unused contribution room can be carried forward to use in future years.
Carry over withdrawals – Any withdrawal you make adds extra contribution room the following year.
No age limit – Unlike the RRSP, you can contribute to your TFSA from the age of 18 onwards for as long as you like.
Flexible investing options – Your TFSA can hold a number of investments, including term deposits.