Registered Plans

Put your money away tax-deferred. Then roll it over.

Contributing to an RRSP is one of the soundest ways to turn your retirement goal into a reality. The earlier you begin contributing to your RRSP, and the more frequent the contributions, the larger your retirement nest egg will be. Not only are your contributions tax-deductible, but all of the income earned on those contributions compounds on a tax deferred basis.

There are basically three types of RRSPs: plans that are limited to cash and guaranteed investment certificates (GICs), plans that invest in mutual funds, and self-directed plans.

A Registered Retirement Income Fund is established with funds that are rolled over on a tax-deferred basis from an RRSP. In addition to the RRIF the annuitant has the option of using the RRSP to purchase an annuity or he/she can take the entire amount as a cash lump sum.

Converting your RRSP at retirement provides a number of choices to consider. The Burak Hannon Brojde group can assist you with this decision by helping to clarify which options are best for you considering your personal circumstances.