SAVINGS + RETIREMENT
Retirement Savings Plans
A flexible registered retirement savings plan (RRSP) ensures that you have a comfortable retirement while reducing your taxable income. There is also a locked-in retirement account (LIRA) for those who have changed employers and wish to transfer amounts accumulated in their pension funds.
Tax-Free Savings Account (TFSA)
The Tax-Free Savings Account (TFSA) is a unique tax-free savings program
(non-RRSP). Any earnings generated (interest, capital gains or dividends) in the TFSA, as well as sums withdrawn, are not taxable.
Retirement Income
You are a young retiree? There are several types of plans to help you manage the savings you accumulated throughout your working life. These plans are designed
to meet your new financial needs and help you make the most of your retirement.
Education Savings Plans
Build up a tax-sheltered fund to finance a childs post-secondary education. A registered education savings plan (RESP) is the ideal financial vehicle to help you defray mounting education costs.
Non-Registered Savings Plans
Non-registered savings plans allow you to accumulate savings to carry out your plans or increase your retirement income.
High Interest Tax-Free Savings Account
The High Interest Tax-Free Savings Account enables you to grow your savings with a high interest rate. In addition, the earnings are not taxable.