Registered Retirement Savings Plans (RRSPs)

Are you among the one in three Canadians currently taking advantage of the federal government's most generous form of tax relief - the Registered Retirement Savings Plan - commonly known as the RRSP?

RRSP tax breaks come in two forms. The first is that once you set up an RRSP, the financial contributions you make are deductible from your taxable income. The second tax advantage is in the sheltering of the income and capital gains that are generated by the investments in your RRSP. Simply put, your money is allowed to grow tax-free. Anyone who has ever invested in a GIC (outside of an RRSP) knows that the interest earned is heavily taxed. Likewise, a capital gains tax is levied on investments like stocks and mutual funds. But all investments within an RRSP are effectively "sheltered" from tax and allowed to compound.

It is best to explore your options with your MemberOne Service Representative. We'll help you identify the options that are best for you. After all, it's your money and your future.