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The Registered Retirement Savings Plan (RRSP) is a federal plan that allows you to save for retirement, a first home or a return to school—while lowering your annual taxes. No wonder over 60% of Canadians have one!

Why open an RRSP?

Less taxes today.

More income tomorrow.

Lower taxes

Each year, you can contribute up to a maximum amount based on your income. This amount lowers your taxable income.

Tax-sheltered growth

Your earnings grow tax-free until you withdraw them—and they grow at an exponential rate since your interest also earns interest over time!

For retirement… and other goals too!

RRSPs are designed to save for retirement with no early withdrawals. But... there are exceptions: you can dip into these savings to buy a first home (HBP) or go back to school (LLP) under certain conditions.

How does it work?

RRSP: Investing in 4 easy steps

One of our advisors2 helps you map out an investment plan for the retirement you want, including: investment horizon, the amount and frequency of your contributions, your risk profile and, finally, the right investments for a winning strategy.

Annual income $60000

The maximum annual contribution is generally 18% of your taxable income or $29,210 (in 2022). This contribution is then deducted from your taxable income.

Didn't maximize your RRSP this year to keep a safety cushion? No worries, your unused contribution room will simply add up.

Your earnings are tax-sheltered, and you benefit from growing income thanks to compound interest.

At retirement or before the end of the year you turn 71, transfer your RRSP to a RRIF or an annuity to set yourself up for retirement and finally enjoy it!

You can also withdraw up to $35,000 before retirement to help buy your first home (HBP) or pay for your education (LLP).

The scenario shown here is for demonstration purposes only3 and should not be relied upon as financial or other advice.

Beneva, a smart investment!

We deliver on performance

Tap into performance-focused investment products.

We invest responsibly

Beneva only works with portfolio managers who are signatories to the UN Principles for Responsible Investment.

We personalize your strategy

We take great care in proposing diversified investments adapted to your profile.

We keep your money safe

Sums invested in savings and retirement plans are protected by Assuris. See our information page for full details.

Automatic savings
Not one to squirrel money away? Go automatic for quick, easy savings!

Let's face it: we all mean to save, but often don’t. So we've made it easy for you to contribute to your RRSPs with Beneva's payroll deduction5 and pre-authorized debit plan.

That's what we call automatic savings: just set it and forget it! And the best part, you get a better return with steady deposits. Talk to your advisor2 about getting started.

Are you a public service employee? We’ve got special advantages for you.

More questions? Sign up for our webinars.

Take control of your financial future. Sign up for one of our financial security webinars and get clear, useful and practical information to use in your current situation.

RRSP or TFSA: which is right for you?

Maximize your savings and lower your taxes by choosing between an RRSP and TFSA. Register now to get practical advice and make some enlightened decisions about your financial future.

Financial security planning for retirement for everyone

Dreaming of a stress-free retirement but not sure where to start? This webinar is right up your alley! Find out everything from budget management to maximizing your savings through RRSPs or TFSAs, along with the ins and outs of government pension plans.

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