REGISTERED RETIREMENT SAVINGS PLAN
A Registered Retirement Savings Plan (RRSP) is a personal savings plan registered with the Canadian federal government allowing you to save for the future on a tax-sheltered basis.What makes an RRSP special is that your contributions to it are tax deductible and your portfolio grows tax sheltered. If you are under 72 years of age and earn income, we encourage you to take advantage of the benefits an RRSP can offer.
REGISTERED EDUCATION SAVINGS PLAN
Registered Education Savings Plans (RESPs) help parents, family and friends save towards a child’s future post-secondary education. We offer Individual and Family Plan RESPs and can help you choose the plan that works best for you. For every $2500 you invest in your RESP the government will grant you 20% of that contribution to a maximum of $500/child/year.
TAX-FREE SAVINGS ACCOUNT
TFSAs provide you with a great way to save for any financial goal, whether it’s for a long-term goal like your retirement, or short-term like a vacation or a new family car. A TFSA allows you to pay no tax on interest income to capital gains earned within your TFSA.
Stocks & Bonds Services
Access expert advice on stocks and bonds, and award-winning online trading, through Qtrade in alliance with Canada Life
Talk to us to find out more, or go to the brokerage services landing page at www.canadalife.com
GUARANTEED INVESTMENT CERTIFICATE
A guaranteed investment certificate (GIC) is an investment that works like a special kind of deposit. When you buy a GIC, you are agreeing to lend the bank or financial institution your money for a set number of months or years (the term). You are guaranteed to get the amount you deposited back at the end of the term. For this reason, GICs are one of the safest ways to invest. You can hold GICs in registered investment accounts like RRSPs, RRIFs and TFSAs.