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Maximize your savings for retirement


Contributing to an RRSP helps provide financial security in your retirement years. With an RRSP, you pay less in taxes and build a larger retirement income for your future.

Key benefits:


  • Make tax-deductible contributions
  • Enjoy tax-free earnings
  • Withdraw funds for your home or education
  • Catch up on contributions
  • Invest in a variety of options for all types of investors
  • Convert to a RRIF by age 71

Key features:


  • Contribute annually up to 18% of your previous year’s income, up to the yearly limit
  • Contribute up to 60 days after the end of each year
  • Carry forward unused annual contributions
  • Make spouse or common-law partner contributions
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First-Timer’s Guide to Retirement

Get the lowdown on RRSPs

Maximize future returns. Save on taxes. Make more money. It's that simple. We can help.

  • Plan your retirement
  • Make the most of tax savings
  • Understand the ins and outs of contributing

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Smart investing

What can you invest in with an RRSP?

Include different types of investments in your RRSP to make the most of your money, including:

  • High-interest savings account
  • Term deposits
  • Mutual funds
  • Securities

RRSP vs TFSA

Retirement Savings Plan vs Tax-Free Savings Account


A TFSA is a savings option that allows you to access funds, without penalty, when you need them. While an RRSP is more of a long-term savings option for retirement, where early withdrawals are taxed.

Retirement Savings Plan:

  • Investment income earned can grow tax-deferred
  • Tax breaks for annual contributions
  • No tax on earnings
  • Contribute to a spousal RRSP

Tax-Free Savings Account:

  • Designed to save for short or long-term goals
  • A registered savings account
  • Free to withdraw at any time with no penalties
  • No tax on interest earned

RRSP loan

Catch up on contributions


Speed up your retirement savings with an RRSP loan. This one-time loan helps maximize your RRSP contribution and save on your taxes.

  • Catch up on unused contribution room
  • Maximize your tax benefits
  • Save more for retirement

See how much you need to save


Our retirement planner helps determine the amount you'll need to retire comfortably. Do the math and then start saving (and dreaming).

These calculators are made available to you as tools for independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy. All examples are hypothetical and are for illustrative purposes only. Please visit your branch to seek personalized advice from qualified professionals for all personal finance issues.

Start saving smarter with these options

RESP


Start saving for your child's education with added government benefits.


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RRIF


Manage retirement income by using the funds saved in your RRSP.


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TFSA


Set money aside and watch it grow throughout your lifetime, tax-free.


View details

Term Deposits


Worry-free investments for long-term funds, and your peace of mind.


View details

Mutual Funds


Invest collectively in securities, and benefit from the income they generate.


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Responsible Investing Portfolio

Invest in companies with a proven, positive environmental record.


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