Retirement Savings Plan (RSP)
Take advantage of a special government-approved investment account that lets you defer your taxes until you cash out.

The earlier you start saving retirement, the better off you’ll be. And one of the best ways to save is with a Retirement Savings Plan (RSP). Why? Because RSPs are special tax-advantaged plans only available in Canada that allow you to grow your money tax-free until you cash out.

How RSPs Work


Each year, you’ll have an RSP Contribution Limit that identifies, as you probably guessed, the maximum you can contribute for that particular year. You can find your Contribution Limit on your Notice of Assessment, which you should have received after completing the previous year’s tax return.

 

When you put money into your RSP, your contribution can reduce your taxable income, lowering the amount you pay in taxes or even earn you a tax refund. Wait, it gets better! That money will then grow on a tax-differed basis, meaning you won’t have to pay any taxes on it until the money is withdrawn, ideally in retirement when you’re in a much lower income bracket.

 

Once the money is in your RSP, it can be invested in many different ways – in stocks, bonds, mutual funds, term deposits and so on. If you are interested in opening an RSP or would like more information, please contact your local branch and we’d be happy to help you.


Deposits and interest are 100% guaranteed by the Credit Union Deposit Guarantee Corporation and the Province of Alberta. This means both the money you put in and the interest earned are safe and secure - up to any dollar amount! 



Featured RSP-Eligible Term Deposits 

Keep your money safe and secure with great rates and flexible options.
1 Yr Non-Redeemable

Interest Rate

3 Yr Non-Redeemable

Interest Rate

5 Yr Non-Redeemable

Interest Rate

*Rates subject to change.
Grandpa with his grandchild fishing

Top off your contribution with an RSP Loan

Older woman with laptop

Open an RSP Line of Credit 

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