RRSPs (Registered Retirement Savings Plans)

Prepare for your retirement years by contributing earned income to this government-approved, tax-sheltered savings plan. If you need the money in advance, you may withdraw the funds to subsidize your education and/or the purchase of your first home. Ask us about setting up automatic RRSP contributions from one of your non-registered accounts. Each RRSP contract is insured up to $250,000 by the Deposit Insurance Corporation of Ontario (DICO).

Home Buyers Plan

As a first-time home-buyer, you can withdraw up to $25,000 from your RRSP to be used as part of your down payment. The amount withdrawn must be paid back to an RRSP over a 15-year period in order not to be taxed on it.

Life Long Learning Plan

If you already have RRSPs and plan on going back to school, you can withdraw from your RRSP to help pay for your education thanks to the Life Long Learning Plan through the government. Click here to learn more about this program: http://www.canlearn.ca/eng/lifelong/llp.shtml