We offer a range of Registered Retirement Services including variable, fixed and index linked RRSPs and RRIFs.

Variable Rate Registered Retirement Savings Plan (RRSP)

  • Funds are not locked in for any specific term
  • Daily interest, paid semi- annually
  • Rates fluctuate with the market
  • Used until member wishes to lock in a rate through a fixed term deposit

Fixed Rate Registered Retirement Savings Plan (RRSP)

  • Higher yielding term, rate fixed until maturity
  • Interest paid annually
  • Minimum deposit of $500
  • Choice of term from 6 months to 5 years
  • Pays higher interest than the variable rate option

Index Linked Term Deposit RRSP

  • Available for RRSPs
  • Offered all year round
  • 3 and 5 year maturities
  • The principle amount is always guaranteed and secure
  • No commission or fees
  • An ideal investment for individuals that want to benefit from the return on the stock market but who do not want to risk losing their original investment
  • Interest yield is based on the performance of the Toronto Stock Exchange

Registered Retirement Income Fund (RRIF)

  • A RRIF can be regarded as a continuation of a RRSP only instead of money going into the plan, funds are paid out of the plan each year
  • The interest earned in a RRIF remains tax sheltered until funds are disbursed from the plan
  • RRSP funds have to be converted into a RRIF or another similar retirement vehicle by the end of the year that the annuitant turns 71
  • In the year in which the member turns 72 the RRIF must pay out a minimum amount based on a pre- set formula
  • Yearly payments are designed to allow the RRIF to continue until the annuitant is well into their 90’s
  • There is no maximum level in any year’s payout, therefore larger withdrawals can be made if required. Withdrawals are regarded as taxable income in the year they are received
  • Investments within a RRIF are the same as the Variable Rate and the Fixed Rate terms that are described under RRSPs (above)
  • Index Linked Term Deposits are not offered within this product

For more information on any of our registered retirement plans please contact us.