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

Registered accounts are insured by FSRA’s Deposit Insurance Coverage Program.

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