RRSPs

There's a lot to know

A Registered Retirement Savings Plan (RRSP) is a government-approved plan through which you save money for your retirement years. Your contributions, within limits, are tax deductible and income earned is tax sheltered. You can have any number of plans.  You can hold RRSPs until the end of the calendar year in which you turn 71, during which time you must make a retirement income option decision for your retirement savings.

There's a lot to know about RRSPs - Tandia has a booklet available written in everyday language in response to the need expressed by many members for clear and understandable information on RRSPs and Retirement Income Options. To obtain your free copy of Retirement Services - Understanding All The Basics, contact us or visit your branch.

Tandia has a number of investment options available to be held within an RRSP.

RRSP Term Deposits - 1 to 5 Year Expand/Collapse

  • Minimum $500, non-redeemable
  • A safe and important component of any investment portfolio
  • Interest compounds on each anniversary date and notices are provided prior to maturity

Short Term RRSP Term Deposits Expand/Collapse

  • 3, 6 and 9 month terms, minimum $1,000, non-redeemable
  • A good 'holding' vehicle for your investment while you wait to see if rates improve or to assist in timing deposit maturity dates to better meet your needs

RRSP Tiered Savings Account Expand/Collapse

  • A registered savings plan account with no minimum deposit
  • Tiered interest - the higher your balance, the higher your interest
  • A great account to accumulate funds in through payroll deductions or automatic transfers
  • Funds may be withdrawn/transferred at any time (subject to applicable withholding taxes)

Index Linked RRSPs Expand/Collapse

An Index Linked Term Deposit presents a safe way to participate in Canadian Equity markets, with a return based on the average growth of the major market indices.  Your principal is guaranteed, yet you can benefit from the potential for a higher return.

Pay Day RRSPs Expand/Collapse

  • Minimum $1,000 commitment (savings goal)
  • You can take as long as a 12 month period to accumulate your goal
  • Funding of the RRSP account is paid by payroll deduction or automatic transfer from an account
  • 1 year term
  • Interest is calculated on the daily balance and paid at maturity

Step RRSPs Expand/Collapse

A Step Term Deposit is an excellent investment alternative in times of low interest rates, as you are assured that each year your interest will increase. As with all our term deposits, the principal and return is guaranteed and it qualifies for deposit insurance protection.


Deposits insured by the Deposit Insurance Corporation of Ontario. Deposits in registered plans are fully insured. Other Canadian dollar deposits insured up to $100,000. For further information on deposit insurance, please ask for a brochure, call DICO at 1.800.268.6653 or log on to the website at www.dico.com.
 
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