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REGISTERED RETIREMENT SAVINGS PLAN
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A Registered Retirement Savings Plan is a government approved plan through which you can save money for your retirement years. Your contributions, within limits, are tax deductible, and the income earned is tax sheltered. Not only do you invest money that would otherwise be paid in taxes, but the earnings of your plan are not taxed until you withdraw them.
If you haven't had a chance to explore the Credit Union's RRSP products, we invite you to take the first step. We'd be happy to review your current RRSP portfolio with you and make suggestions about how you can improve your overall performance.
BENEFITS AND FEATURES
- A great way to save! An RRSP is a tax-deferred investment plan that allows you to save for your retirement
- Individual and spousal plans available
- Start early and take advantage of compounding interest
- Tax sheltered! Any money earned in an RRSP accumulates tax-free until it is withdrawn
- It's affordable! Minimum initial investment may be small and subsequent contributions with a pre-authorized debit can be made monthly
- RRSP Loans** available to maximize your contributions; tax savings may offset the cost of borrowing at year-end
- No fees unless transferred to another financial institution in which case a small administration fee will apply
- Lots of options! Your RRSP investment can be in the form of daily interest savings, term deposits, and mutual funds* through Credential Asset Management Inc.
- All funds in your RRSP at the time of your death, including accrued interest, are payable to your beneficiaries or estate
- RRSP funds may also be used for the Home Buyers’ Plan and for the Lifelong Learning Plan
Call your Member Service Officer or branch to make an appointment or have an application mailed to you.
The Savings and Investment Calculator
|for an RRSP Loan|
* Mutual funds are offered through Credential Asset Management Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, cash balances and mutual funds are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that issues deposits in Credit Unions. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. ®Credential is a registered mark owned by Credential Financial Inc. and is used under licence.
** Using borrowed money to finance the purchase of securities involves greater risk than using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines.