Retirement Savings Plan


  • Immediate Tax Benefits
  • Balance is tax-free until withdrawn
  • Security for your future


  • Those in high earning years
  • For long term savings
RSP Features

RSP More Info

A Retirement Savings Plan (RSP) is a tax-advantaged investment plan. It is designed to help you save for your retirement.

It can also be beneficial for shorter term goals such as: saving for the down payment on your first home using the Home Buyers Plan or for education costs under the Life Long Learning Plan.

There are no account fees or service charges so more of your savings can go towards your future.

Guaranteed Investment Certificates (GICs)

Maximum Savings 
Your investments grow tax sheltered when you deposit your money in an RSP and your contributions to the account can be deducted from your taxable income. The amount of funds that you deposit into your RSP, you reduce your taxable income by the same amount. Further, the money that you invest in your RSP are only taxed when you make withdrawal so you’re able to maximize your wealth to sustain your long-term goals.

Maximum Flexibility
 You’re able to access your funds through using a Home Buyers Plan (HBP) or a Lifelong Learning Plan (LLP). An RSP gives you maximum flexibility in your retirement years by providing you with financial security and stability when you’ll likely be earning a lower income.



Maximum Opportunity
 An RSP gives you the ability to make smart financial decisions for your future. CFF Centres will help you save for your retirement years by subjecting your savings to great rates and earned compound interest. As per government regulations you’re able to receive tax deferrals until your savings are withdrawn and tax-free growth as long as your money stays in the plan.

Maximum Security 
Your money is secure. Which means your savings are eligible for CDIC coverage up to $100,000.00


  • Tax deductions which can increase your tax return, giving you an opportunity to save or invest your money.
  • Tax-free growth as long as the funds stay in the plan
  • Tax deferral until savings are withdrawn
  • Maximize your savings at great rates and earn compounded interest on your money.


RSP Qualifying Details

All account holders must have earned income and a valid Social Insurance Number. The maximum age to contribute to a Retirement Savings Plan is 71 years of age. To determine your contribution limit, please check your Notice of Assessment or, check online at CRA’s My Account: . All amounts are subject to annual deposit limits set by the Canada Revenue Agency. Individual contribution capacity depends on deposits made (or not) in prior years.

RSP Scenarios


We all should save for the future and a Retirement Savings Plan is a smart savings opportunity to help support your long term retirement goals.

It allows you to live comfortable when you high income years might have passed.

Each year that you contribute to your RSP, reduces your taxable income, which means that you pay less tax now and build a stronger financial future for tomorrow.

1. Open an RSP through your CFF Centre.


All account holders must have earned income and a valid Social Insurance Number. The maximum age to contribute to a Retirement Savings Plan is 71 years of age.


  • What are your investment goals?
  • Decide how you want to invest
  • How much money did you make last year? Bring your most recent Notice of Assessment from the Canada Revenue Agency (CRA) to show how much you can contribute to the RRSP this year.
    • Do you have a pension plan at work? This affects how much money you can contribute each year. Inquire with your employer if they have an RSP program
  • Who is your beneficiary? This is the person you want to receive the money in your RSP when you die.

3. Set up an Automatic Savings Plan (ASP) to automatically transfer a pre-determined amount into your RSP based on a frequency that you’re comfortable with. This makes saving for retirement simpler than ever. Keeping your money working for you without you having to do any of the hard work.

RSP Scenario 2


RSP Graphic 1RSP Graphic 2

RSP Apply Now

RSP Rates

5 Year3.08%
1 Year2.25%
18 Months2.35%
2 Year2.45%
3 Year2.74%
4 Year2.80%
Min. Deposit$1,000