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A blueprint for your retirement.
Registered Retirement Savings Plans (RRSPs) are government-approved plans that help you save money for retirement. Your contributions, within limits, are tax-deductible, and the income earned is tax-sheltered. You can have any number of plans.
There is no maximum to the amount of money a member may accumulate in an RRSP. You can set up an RRSP on behalf of a spouse and make contributions to it. Maximum contributions depend on earned income.
Fixed-term RRSPs are available from 30 days to 5 years and cannot be transferred or withdrawn until the term is mature. A variable RRSP, on the other hand, can be withdrawn at any time.
Download Understanding RRSPs brochure
Tax-sheltered funds
Contributions are tax-deductible and ideal for members looking to shelter funds from their Canadian taxable income.
Earns money
Interest income compounds and accumulates free of tax until you withdraw from your RRSP.
Increased earning
Interest compounds annually.
Retirement planning
The sooner you start contributing, the more you will have at retirement. Allows you to build a comfortable retirement fund during your peak earning years.
Easy to attain
Minimum deposit of $500 for fixed RRSP.
Availability
No minimum for variable plans.
Maximized return
The interest rate is guaranteed for the full term.
Peace of mind
All deposits are 100% guaranteed by the Deposit Guarantee Corporation of Manitoba.
RRSP Options
Interest is calculated on the daily closing balance and paid semi-annually (September 30th and March 31st).
Terms are available from 30 days to 5 years.
Non-redeemable before maturity.
Terms are available from 30- to 364-day. Interest compounded and paid on the maturity date.
On 1- to 5-year terms, interest compounds and is paid annually on the anniversary date.
Casera members have access to a full range of investment products and services through our partnerships with Credential Asset Management Inc.
For further information, call our Investment Specialists:
Jayme Marien, Senior Investment Specialist at 204-958-6304
Steve Hildebrand, Investment Specialist at 204-958-4796
*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 insured nor guaranteed, their values change frequently and past performance may not be repeated. ®Credential is a registered mark owned by Aviso Wealth Inc.
The Home Buyers' Plan allows first-time homebuyers to withdraw up to $35,000 from their registered retirement savings plan (RRSP) to buy or build a qualifying home for themselves or a related person with a disability.
Under the Home Buyers' Plan, contributions must remain in the RRSP for at least 90 days before they can withdraw them, or they may not be deductible for any year.
Generally, you have to repay all withdrawals to your RRSPs within no more than 15 years. You will have to repay an amount to your RRSPs each year until your HBP balance is zero. If you do not repay the amount due for a year, you will have to include it in your income for that year.
The Lifelong Learning Plan allows you to withdraw amounts from RRSPs to finance training or education for you or your spouse or common-law partner. You cannot use the RRSP funds to finance your children's training or education or the training or education of your spouse's or common-law partner's children.
With an RRSP loan, you can maximize your annual contribution or add money to a plan with unused contribution room from preceding years. Obtain an RRSP loan for a period of up to 24 months at preferred rates, and you can pay off the balance at any time without penalty. Arrange for terms longer than 24 months at a higher interest rate. While the interest rate is conventionally higher than the interest earned, the tax advantage makes it worthwhile.
Members who want to take advantage of financial opportunities but do not have cash can benefit from a Casera investment loan. Investment loans are ideal for young people and families who want a head start on the path to a secure financial future. You can also purchase mutual funds or kick-start a grandchild's education fund with an investment loan from Casera.
Click here for more information about RRSP and investment loans.