Investments

A tax-deferred savings account that can help Canadians prepare for retirement. 

• A RRSP savings plan for Canadian residents age 18 to 71.  
• Pre-tax money is used for investment deposit 
• Investments grow tax free until withdrawal, at which time it is taxed at your marginal rate.  
• Annual RRSP contribution room is created based on 18% of your annual earned income up to a maximum of $26,500 as of 2019.  
• Unused RRSP room is carried forward and can be used in future years if not used. 
• All RRSP funds must be transferred to a RRIF end of year you turn  age 71 or the entire amount will be taxable at your marginal tax rate. 
• A variety of investment options are available for your RRIF account. 

A savings account where investments can grow tax free for future major purchases. 

• TFSA's are available to Canadians residents age 18 and over.  
• Tax free-- Investment income, including capital gains and dividends, or interest earned in a TFSA is not taxed in most cases.  
• Withdrawals do not affect your government benefits.  
• After a withdrawal you will receive your contribution room back in the amount of the withdrawal the following calendar year.  
• In 2019 you have $63,500 in TFSA room if: 
  • You have never used a Tax free savings account  
  • You were age 18,  a Canadian resident by december 31, 2009  
• On January 1, 2020 you will receive an additional $6,000 of room. 

Designed to help parents and grandparents set money aside for a child's post-secondary education with the help of federal government grants.  

• Designed to help parents and grandparents set money aside for a child's post-secondary education with the help of federal government grants.  
• You may deposit $5,000 per year per child.  
  • The first $2,500 would receive a grant equal to 20% ($500) which is deposited directly into your RESP account.  
  • If you do not use all your grant room in a year, it can be carried forward and used in future years.   
  • You may only catch up 2 years worth of grants in a given year. 
  • Grants are not available after the end of the childs 16th year.   
• An RESP can be set up for each child or a family plan can be set up for your entire family.  
• Additional grants are available for lower income families.  

A registered investment account created from funds transferred from an RRSP.  These provide income in retirement through government regulated minimum annual withdrawals. 

• A RRIF is a retirement income vehicle.  
• Funded by RRSP proceeds that must be transferred to a RRIF by the end of the year you turn 71.   
• A RRIF account can provide you an income monthly or annually.  
• There is RRIF minimum amount you must withdrawal each year based on your age, but no maximum amount restrictions.   
• A variety of investment options are available for your RRIF account. 

A registered investment account created from funds transferred from pension plans.  These provide income in retirement through government regulated minimum and maximum annual withdrawals. 

• LIRA's and LIFS's are similar to RRIF's but funds come from pension plans instead of RRSP's. 
• If you are changing jobs and are part of a vested registered pension plan you will likely receive a few options as to what to do with your pension.  
• There are two types of plans: Defined Benefit and Defined Contribution 
• You must consider guarantees associated with plans and even medical benefit coverage. 
• Unlocking 50% of your money is available in the first 60 days after the transfer occurs.   

A savings account intended to help disabled individuals who are receiving the disability tax credit (DTC) save for their long term financial security

• An RDSP is a savings account intended to help disabled individuals who are receiving the disability tax credit (DTC) save for their long term financial security .   
• RDSP's provide 2 separate grants.   
• Canadian disability savings grants (CDSG) are available to all account holders  based on annual income and the amount the account holder contributes each year.   
• The lifetime maximum amount of these grants is $70,000.   
• Lower income families can also receive Canadian Disability Savings Bonds (CDSB) up to a lifetime maximum of $20,000.  
• Contributions allowed up to $200,000 and are not tax deductible.  
• If  a parent or grandparent passes away they can transfer up to $200,000 of their RRSP/RRIF or RPP to the dependent's RDSP on a tax-deferred basis.  
• Grants can be caught up for up to 10 years or to the date of diagnoses, whichever is less.  
• Grants become vested after 10 years from when they are deposited into the plan, If a withdrawal is made prior to 10 years of the first grant, the grant will be clawed back.   

Mutual Funds 

Pooled savings in a diverse portfolio of investments managed by professional money managers.   

Funds Available: No load, Front end load, Tax-efficient D series, Corporate Class, Labour-sponsored Investments 

Segregated Funds 

Policies that combine insurance and mutual fund investments together.  You can grow your investments in the financial market, while insurance protection guarantees some (or all) of your initial investment.   

Funds Available: No load, Front end load, Tax-efficient D series, Corporate Class 

A description of the key features of the segregated fund policy is contained in the information folder.

Any amount that is allocated to a segregated fund is invested at the risk of the policyowner and may increase or decrease in value.

Annuities 

A financial product that will pay a steady stream of guaranteed income for a set period of time depending on which annuity option you choose. 

Annuities Available:  Life Annuity, Term Certain Annuity, Variable Annuity 

GIC's 

A guaranteed investment certificate is a low risk investment that offers a guaranteed rate of return over a fixed period of time.   

High Interest Savings Accounts 

A type of savings account that pays higher interest than standard savings account.  They are designed to save money in for a longer period of time.