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You Could look forward to
We understand the importance of ensuring you have access to products that meet your specific needs. That means providing choice, opportunity and security. Various investment products are designed to carry you through your investment life - from the first dollar you set aside for retirement to receiving a regular retirement income - and all the goals in between.
You can select an individual fund or a complete managed solution. Work with your adviser to choose the investment products that are right for you. Regardless of what you choose, investment products ensure that you will have guarantees that matter.
Registered Education Saving Plan
A Registered Education Savings Plan, also known as an RESP, is a savings plan used by parents to help them save for their children's post-secondary education in Canada. With the rising costs associated with sending a child to college or university, an RESP can really help because the government provides grants while the savings grow tax-deferred until withdrawn. When the student withdraws the funds for educational purposes, the withdrawals are taxed in the student’s hands, typically at a lower rate.
The sooner you start, the more you save.
Registered Retirement Saving Plan
A Registered Retirement Savings Plan, or RRSP, is a plan type that provides tax benefits that allow you to save for your retirement.
RRSPs may reduce your taxes in up to three ways:
Contributions to RRSPs, up to predetermined limits, may be deducted on your income before calculating income tax due.
Income earned within the RRSP (interest, corporate dividends, trust distributions, capital gains) is not taxed until money is withdrawn from the plan, allowing the plan to grow faster than the same investments would grow if they were held outside the plan and were thus subject to tax.
Money may be withdrawn from an RRSP during the years when you are in a lower income-tax bracket due to reduced income i.e. retirement. The money withdrawn will be taxed, but at your current tax rate, which could be lower.
Registered Disability Saving Plan
A registered disability savings plan (RDSP) is a savings plan that is intended to help parents and others save for the long term financial security of a person who is eligible for the disability tax credit.
Contributions to an RDSP are not tax deductible and can be made until the end of the year in which the beneficiary turns 59. Contributions that are withdrawn are not included in income for the beneficiary when they are paid out of an RDSP. However, the Canada disability savings grant, the Canada disability savings bond, investment income earned in the plan, and rollover amounts are included in the beneficiary's income for tax purposes when they are paid out of the RDSP.
Annuities can be structured according to a wide array of details and factors, such as the duration of time that payments from the annuity can be guaranteed to continue. Annuities can be created so that, upon Annunciation, payments will continue so long as either the annuitant or their spouse is alive. Alternatively, annuities can be structured to pay out funds for a fixed amount of time, such as 20 years, regardless of how long the annuitant lives.
Annuities can be structured to provide fixed periodic payments to the annuitant or variable payments. The intent of variable annuities is to allow the annuitant to receive greater payments if investments of the annuity fund do well and smaller payments if its investments do poorly. This provides for a less stable cash flow than a fixed annuity, but allows the annuitant to reap the benefits of strong returns from their fund's investments.
The different ways in which annuities can be structured provide individuals seeking annuities the flexibility to construct an annuity contract that will best meet their needs.
Tax-Free Savings Account
The TFSA program began in 2009 and under proposed legislation, the annual TFSA dollar limit, as of 2017, is $5,500.00. TFSAs offer a great way to save, tax-sheltered, for any financial goal, whether it's for a long-term goal like your retirement, or short-term goal like that dream vacation or a new family car.
Key features of a TFSA
Flexibility to contribute and make withdrawals
Save for short- or long-term goals
No tax on withdrawals
Any amount withdrawn can be re-contributed in future years
Withdrawals are not considered income as they do not affect your eligibility for income-tested government benefits or tax credits
Can hold many of the same investments as RRSPs