The contributions you make to your RSP reduce your overall taxable income. That means you’ll pay less income tax every year you contribute to your plan. Learn more about this at the Canada Revenue Agency website.

By the time you begin to withdraw your money at retirement, you’ll likely be in a lower tax bracket – so the money you withdraw at that time would be taxed at a lower rate.*

Because a GIC guarantees your principal, you know your retirement savings are secure.

First time homebuyers can withdraw from their RSP for a purchase of a home. You get 15 years to pay back what you’ve borrowed, making it an affordable way to get your first home sooner.*

If you’re married or living common-law, the higher income earning spouse can contribute to the other’s RSP. This helps even out your overall taxable income, which means you pay less tax as a couple.*

You can also withdraw from your RSP to fund full-time training or education for you or your spouse.*