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Registered Retirement Savings Plan

Enjoy tax benefits now and nurture your future with a Registered Retirement Savings Plan (RRSPs). RRSPs provide income tax breaks annually all while ensuring you can retire when and how you want.

Investing in RRSPs can be done in many ways – including term deposits, mutual funds*, and cash. If you’re married or common law, consider a Spousal RRSP to reduce total taxable income by investing more in the name of the spouse who will most likely be in the lower bracket at retirement.


For retirement For everything else
Contributions are deductible and reduce income for tax purposes Contributions are not tax-deductible
Withdrawals are added to your income and taxed at current rates Withdrawals and growth within your account are tax-free
Deadline for contributions around the end of February annually No deadline for contributions








If you need to boost your contribution but don’t have the funds, consider a RRSP specific Line Of Credit or Term Loan – with low interest rates and flexible repayment schedules you’ll be better off financially. Plus, you can use your increased tax return to pay it down!

To learn more about RRSPs check out our Fwd: articles, written by our own Copperfin Advisors.

Check out this great video series rolled out by Financial Services Commission of Ontario that focuses on helping Ontarians prepare for their retirement. The RRSP contribution deadline is fast approaching, so there's no better time than now to start thinking about nurturing your financial future.

*Mutual Funds are offered through Credential Asset Management Inc. Using borrowed money to finance the purchase of securities involves greater risk than purchasing 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.