• RRSP Benefits
• RRSP Savings
• RRSP Types
• RRSP Deduction Limit

Types of RRSPs

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There are three basic types of individual plans available: Deposit Type Plans, Mutual Funds, and Self-Directed Plans. The following is a short description of each plan - but remember that plan features will vary among issuers.

Deposit Plans
Mutual Funds
Self-Directed Plans
RRSP Loans
Group RRSPs

Deposit Type Plans
Deposit-type RRSPs are the most common plans. They offer familiar savings options including saving accounts, term deposits or guaranteed investment certificates. The rates of interest may be variable, fixed or indexed-linked. Key choices include the term of the deposit (ranging from daily to multi-year); and frequency of interest calculations and payments to the RRSP (daily, monthly, annually, or end of term). Key considerations include OMISTA's policy regarding early withdrawals (your investment may be non-redeemable for the term); and deposit insurance coverage.

Mutual Funds
Mutual Funds combine the benefits of diversification and professional management with being affordable to the average investor.

To help you achieve your dreams of a secure future, consider adding socially responsible Ethical Funds® to your RRSP portfolio. When you invest in Ethical Funds®,  you get a voice in encouraging sustainable business practices - in changing companies for the better.

*Mutual Funds are offered through Credential Asset Management Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual fund securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds are not guaranteed, their value changes frequently and past performance may not be repeated. Ethical Funds® is a registered mark owned by Ethical Funds Inc.® and is used under license.

Ethical Funds® are available to residents of Canada only.

Self-Directed Plans
With this kind of plan, you can make all your own investment decisions within a wide range of qualified investments. A trustee does all the administration work for you. A self-directed plan may be uneconomical for those with limited RRSP funds, because of the normal administration and transaction fees. 

Self-directed plans are suitable for those with considerable investment experience and ample time to manage the funds, or for those who want all their RRSP investments within one plan

Why Contribute to an RRSP?
Find out why you should contribute to an RRSP.

How can I Save for an RRSP?
Learn more about easy ways to save for an RRSP contribution.

Calculation of RRSP Deduction Limit


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