RRSPs

It Is Never Too Early To Start Planning For Your Future

An RRSP, or Registered Retirement Savings Plan, is a government approved plan that allows you to save money for your retirement years.  Your contributions are tax deductible (within certain limits), and the income earned is tax sheltered.

Anyone with "earned income" subject to Canadian taxation, including non-residents may contribute to an RRSP.  Even if you are not taxable, you should file a tax return to report your earned income and create RRSP deduction room.

Contributions to your RRSP are made during your peak earning years, when you can most afford it.  Not only are you investing money that would otherwise be paid in taxes, but the earnings are not taxed until you withdraw them.

The growth of your RRSP increases rapidly over the years as it is reinvested and compounded.  The sooner you start your contributions, the bigger the results will be; building you a more comfortable retirement fund.

Safe and secure, Creston & District Credit Union offers you Registered Retirement Savings Plans with some of the following features:

  • Variable savings with no minimum deposit, and is redeemable on demand
  • Fixed-rate term deposits, 1-5 years, with minimum $500 investment
  • Redeemable or non-redeemable options on fixed-rate terms
  • No set-up or administration fees*
  • Instant withdrawals and instant tax receipts, first 60 days of the year
  • Automatic contributions to the variable available
  • Deposits are 100% guaranteed by the Credit Union Deposit Insurance Corporation (CUDIC)

*except when the RRSP is transferred to another financial institution that is not a credit union.

View our current RRSP Term Deposit rates and product offerings

Visit Creston & District Credit Union and speak to one of our Member Service Representatives to help you get started saving for your retirement today.

For other RRSP investment options, contact our Mutual Funds Representative and Certified Financial Planner, Brady Huscroft at Growth Financial Corp., a subsidiary of Creston & District Credit Union.

RRSP Information Links

The following links provide more information on RRSPs:

 

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