Registered Retirement Savings Plan (RRSP)
Reduce your taxable income and set yourself up with a steady income after retirement with tax-deferred savings.
What is an RRSP?
An RRSP is an account specifically designed to help income-earning Canadians under the age of 71 save for retirement. An RRSP holds other types of investments such as GICs, mutual funds*, and stocks*.
RRSPs allow you to reduce your taxable income now through tax-deductible contributions and defer paying taxes on your investment earnings until after retirement. At that point, you are typically earning less income and are likely in a lower tax bracket.
RRSP features you’re sure to enjoy
Enjoy flexible savings options
Roll forward unused contribution room
Automate your contributions
Choose the RRSP solution that’s best for you
Variable savings
Choose this competitive interest, variable-rate savings option while you decide the best way to invest your funds.
- Earn interest right from dollar one
- Interest calculated on a minimum daily balance and paid annually on December 31
- Deposits are guaranteed 100% by the Deposit Guarantee Corporation of Manitoba*
GICs
Choose a term length that works for you and earn a guaranteed rate of return.
- Choose from convenient 1- to 5-year terms with a minimum investment of $500
- Interest is paid annually and can be compounded (added to the GIC) or paid out to your account
- GICs are non-redeemable
- Tiered interest rates start at $100,000 and are paid on the entire balance
- Deposits are guaranteed 100% by the Deposit Guarantee Corporation of Manitoba*
Mutual funds
Mutual funds are a good way to diversify your savings portfolio and you can benefit from our knowledgeable advisors and professional investment management to meet your financial goals.
- Choose from a broad assortment of professionally managed mutual funds**
- Diversification for a portfolio that’s custom tailored to your needs and risk tolerance
- Convenient and simple way to invest in a variety of securities
Contact our wealth management team
We believe everyone can benefit from working with a wealth advisor, whether you're just starting out, building your wealth, or planning to leave a legacy.
Get in touch with a wealth advisorGetting to know RRSPs
Your annual contribution limit is either 18% of your earned income from the previous year, the remaining contribution limit after an employer-sponsored pension plan, or the maximum annual limit for the taxation year (see table below) whichever is the lowest.
The deadline for 2024 contributions is extended to Monday, March 3, 2025.
2026 |
$33,810 |
2025 |
$32,490 |
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2021 |
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| 2019 | $26,500 |
2018 |
$26,310 |
| 2017 | $26,010 |
2016 |
$25,370 |
- A Canadian resident
- Has earned income and filed tax returns
- Is under the age of 71
- Holds a valid Canadian Social Insurance Number
- RRSPs are accessible before you retire
- You have more control over how your savings are managed
- RRSPs are available to both you and your spouse
RRSP rates
| GIC (RRSP / RRIF / TFSA / FHSA) | ||
|---|---|---|
| 12-month | Less than $100K | 3.85% |
| $100K - $249,999 | 3.90% | |
| $250K** and over | 3.95% | |
| 24-month | Less than $100K | 3.85% |
| $100K - $249,999 | 3.90% | |
| $250K** and over | 3.95% | |
| 36-month | Less than $100K | 3.55% |
| $100K - $249,999 | 3.60% | |
| $250K** and over | 3.65% | |
| 48-month | Less than $100K | 3.55% |
| $100K - $249,999 | 3.60% | |
| $250K** and over | 3.65% | |
| 60-month | Less than $100K | 3.55% |
| $100K - $249,999 | 3.60% | |
| $250K** and over | 3.65% |
| RRSP / RRIF (variable) | Less than $100K | 2.45% |
|---|---|---|
| $100K - $249,999 | 2.55% | |
| $250K** and over | 2.75% |
*Includes all savings and chequing accounts, RRSPs, RRIFs, TFSAs, FHSAs, and GICs.
**Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc.
Unless otherwise stated, mutual fund securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions.
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