An RRSP provides you with tax advantages to grow your retirement savings faster while you are still working.
If you or your partner have a significantly higher income now, or expect to in the future, think about these features.
The contributing partner defers taxes paid on their annual income tax.
Your overall tax bill is reduced by keeping both spouses in a lower tax bracket during retirement.
If you are 71+, you can no longer contribute to an RRSP, but if your spouse is 71 or younger, you can contribute to their Spousal RRSP and still claim a tax deduction.
Your spousal RRSP contribution, when combined with your personal RRSP contribution, cannot exceed your personal RRSP deduction limit.
|LONG TERM NON-REDEEMABLE TERM DEPOSITS||Rate|
|RRSP AND RRIF SAVINGS ACCOUNTS||Rate|
|$0 - $1,000.00||
|$1,000.01 - $10,000.00||
|$10,000.01 - $25,000.00||
|$25,000.01 - $50,000.00||
|$50,000.01 - $100,000.00||
Mutual funds are offered through Credential Asset Management Inc. Mutual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.