Reach your investment goals

Retirement Savings Plan

It's never too early to start planning and saving for your retirement. With a solid plan in place your future is looking good. Anyone with "earned income" up to the end of the year in which they turn 71 years of age, may contribute to a Registered Retirement Savings Plan (RRSP).

An RRSP is a government-approved plan that encourages people to save for their own retirement. Your contributions, within limits, are tax deductible and the plan's earnings are tax-sheltered. Each RRSP contract is insured for up to $100,000 by the Deposit Insurance Corporation of Ontario.

Retirement Income Fund

You're turning 71 and that means it's time to make your next investment move. Your RRSP must mature before the end of the calendar year in which you turn 71. At that time your RRSP can be converted to a retirement income option such as a Registered Retirement Income Fund (RRIF), Certain Annuity to Age 90 or Life Annuity.

You can continue to invest your RRIF just like an RRSP, and earn tax-deferred interest on the balance. And based on a minimum requirement, you will choose the amount you want to withdraw each year as taxed income.

Call our Investment Advisors at 416.366.5534 to set up an appointment or discuss your retirement needs today.