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Registered Retirement Savings Plan (RRSP)


Plainsview financial mortgage banking community investmentsPlainsview Credit Union offers a variety of options for investing your RRSP. As with all deposits at the Credit Union there is an Unlimited Guarantee of funds through the Deposit Guarantee Corporation.

A Registered Retirement Savings plan is a government approved plan that allows you to save money for your retirement. During your peak earning years you can invest to build your retirement fund while saving money on your taxes. Interest earned on these savings is not taxable until the funds are withdrawn. Any interest earned is compounded and the growth of an RRSP increases rapidly over the years.

Anyone who has "earned income" subject to Canadian taxation, including non-residents, may contribute to an RRSP. You can also make a part of or all of your contribution to a plan in your spouse's name. You as the contributor still benefit from the tax deduction. Limits to RRSP contributions are based on "earned income" of the previous year. You can also carry forward any unused portions. This information is on your Room Statement from Revenue Canada or you can obtain it by phoning 1-800-667-7167 and providing them with your Social Insurance Number.

REGISTERED RETIREMENT SAVINGS PLAN OPTIONS

RRSP Variable Plan

RRSP Variable plan ensures that your investment keeps pace with current interest rate trends. Interest rates are reviewed and adjusted regularly, giving you very competitive rates on your investment. This savings plan allows you to make deposits as often as you like. This product is redeemable and accessibility to you at any time. Take advantage of deferred tax savings and enjoy the flexibility of transferring funds to a fixed plan at anytime.

Fixed Rate RRSP

Fixed Plan Available investment periods of 1-5 years and the interest rate fixed for the length of term chosen.

OTHER RRSP INFORMATION

Plainsview Credit Union can help you designate a beneficiary for your RRSP funds at anytime. RRSP loans are also available. Come in, call or email one of our employees at any branch of Plainsview Credit Union, and let us help you start building your future now. Email us at info@plainsview.com. or phone (306) 736-2549.