Annual limit contribution – 18% of earned income (subject to the annual contribution limit)
Unused contribution room - Carried forward from year to year
Home Buyer's Plan
Lifelong Learning Plan
Income splitting
Retirement Income Fund

Your employer typically deducts income tax based on your total annual income. A deposit to your RRSP reduces your taxable income. This means you may end up paying more income tax than required during the year. When you file your tax return with the Canada Revenue Agency and claim your RRSP deduction, you would receive a refund for any income tax that was overpaid.

You can locate your maximum contribution limit by looking on your most recent Notice of Assessment. This Notice is issued from the Canada Revenue Agency. This maximum amount is based on 18% of your previous year’s earned income, up to the maximum RSP contribution limit. It also includes any unused contribution room from previous years. If you are a member of a pension plan, your pension adjustment will reduce the amount you can contribute to your RRSP. Unused contribution room can be carried forward and used in future years.

REGISTERED EDUCATION SAVINGS PLAN (RESP)

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ACCESSIBLE WHEN YOU NEED IT MOST

Once your child is enrolled in a post-secondary education program, the income earned from your RESP can be withdrawn along with the government grants in the form of Education Assistance Payments (EAPs). Since EAPs are paid directly to the student, there will be little or no tax to pay. RESP allows you to save up to $50,000 as a tax-deferred investment, which could be higher than the available amount in your TFSA. In addition to that you receive the benefits of the government grants. If you contribute the maximum amount per child, you will maximize the tax-deferred benefit of an RESP.

There are even tax benefits if there is any remaining income in your plan or if your child decides not to pursue a post-secondary education:

Your net contributions are returned to you tax-free
Some or all income accumulated in your plan may be returned as an Accumulated Income payment or rolled over into a Registered Retirement Savings Plan (RRSP) provided you have the contribution room.

Up to 15% Bonus deposited at the maturity by the RESP company. This is in addition to the Government grant.

REGISTERED DISABILITY SAVINGS PLAN (RDSP)

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RDSP Calculator

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REGISTERED DISABILITY SAVINGS PLAN (RDSP)

A registered disability savings plan (RDSP) is a savings plan that is intended to help parents and others save for the long term financial security of a person who is eligible for the disability tax credit (DTC). Contributions to an RDSP are not tax deductible and can be made until the end of the year in which the beneficiary turns 59. Contributions that are withdrawn are not included as income to the beneficiary when they are paid out of an RDSP. However, the Canada disability savings grant (grant), the Canada disability savings bond (bond), investment income earned in the plan, and the proceeds from rollovers are included in the beneficiary's income for tax purposes when they are paid out of the RDSP.

ANNUITIES

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PAYOUT ANNUITIES

A payout annuity can be used as a guaranteed income. It can be used for short or long- term income needs. It can also cover fixed expenses in retirement or give guaranteed income that is not affected by interest rates or market fluctuations. Payout annuities can also be used for converting registered savings to income.

SEGREGATED FUNDS & MUTUAL FUNDS

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COMPETITIVE ADVANTAGES

A world of investment opportunity: fund choices that offer a wide range of asset classes, with global investment options available within every guarantee class
Powerful resets: annual client-initiated resets to age 80 that lock-in market gains (Estate Class 75/100 and Protection Class 100/100)
100% death benefit guarantee: offers a non-reducing death benefit, where every deposit made to the Estate Class (75/100) and Protection Class (100/100) guarantee options always receives a 100% death benefit guarantee, with deposits accepted to age 85
100% maturity guarantee: every deposit made to the Protection Class (100/100) guarantee option within the first year is fully protected with a 100% maturity guarantee on the 15th policy anniversary
Competitive price: offering competitive MERs and some of the lowest guarantee fees amongst our competitors
Online Access: An online portal that you can use to view the policy information and market values, and tools that allow you to make updates to their banking details and contact information

TAX-FREE SAVINGS ACCOUNT (TFSA)

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TAX-FREE SAVINGS ACCOUNT (TFSA)

A Tax-Free Savings Account (TFSA) is a savings option that does not apply tax to the growth earned by the investment. This is unique from traditional savings accounts that does charge tax on the growth. Even in a Retirement Savings Plan (RSP), the growth is taxed when the money is withdrawn from the RSP. With a TFSA, no matter how much the investments earn, the growth will never be taxed.

GUARANTEED INVESTMENT FUNDS (GIFS)

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GUARANTEED INTEREST ACCOUNT

A Guaranteed Interest Account (GIA) can be used as an emergency fund. A GIA can also be used as a guaranteed holding of an investment portfolio or even guarding against market volatility. GIAs offer security of principal with a guaranteed rate of return. GIAs can also be used with a Tax-Free Savings Account.

FINANCIAL & RETIREMENT PLANNING

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RETIREMENT PLANNING

To determine the approximate age at which you want to retire, take a look at the two sources of government benefits as well as your personal savings. The amount you will have to save to achieve your objectives and maintain your lifestyle will vary based on the time you have before retirement. There are also factors such as cost-of-living increase that have an impact on the amount you will have to save.

There are two sources of government plans from which you could receive monthly benefits:

First: Old Age Security (OAS) pension
Second: Canada Pension Plan (CPP – everywhere in Canada except Quebec)