RRSP (Registered Retirement Savings Plan)
A RSRP is a retirement savings plan that set up, we register, and you or your spouse / common-law partner contribute to. Contributions to a RSRP are tax-deductible, which can reduce your taxable income. Any earnings within the RSRP are typically tax-exempt as long as the funds remain in the plan. Taxes generally apply when you withdraw money from the plan.
RESP (Registered Education Savings Plan)
A Registered Education Savings Plan (RESP) is a government-registered account designed to help save for post-secondary education. Grants associated with RESPs have age limits. For further details, please get in touch with us.
TFSA (Tax-Free Savings Account)
A TFSA is a savings plan that allows your money to grow-tax-free. It's an ideal solution for your short-, medium-, and long-term savings goals, whether you're planning a trip, buying a home, or building an emergency fund.
LIRA
If you're about to change jobs and wondering about your current employer's pension plan, a LIRA can help. It lets you transfer the money saved in your former employer's pension plan to an individual plan.
FHSA (First Home Savings Account)
The FHSA is crafted to assist future homeowners in saving for their first home purchase. It combines the benefits of a RRSP and a TFSA, letting you deduct contribution from taxable income while generating tax-free returns.
NON-REGISTERED PLAN
Once you've hit your RRSP, FHSA or TFSA contribution limits, this flexible saving plan lets you invest even more for your personal projects and retirement.
RRIF
The registered retirement income fund (RRIF) naturally extends the registered retirement savings plan (RRSP). It provides access to the saving accumulated during your working years. Your RRSP must be converted to an RRIF by December 31 of the year you turn 71.
Annuities
Annuities offer a compelling option for turning part of your savings into a fixed, guaranteed income that is paid periodically. There are two types of annuities: life annuity and annuity certain. The IAG Savings and Retirement Plan's FORLIFE series also guarantees income for life.
RSRP / RESP / Investment Loan
Your transition to retirement is an important step in your life that requires preparation. Your financial security advisor is in the best position to guide you through this period and help you make informed decisions.
