RRSPs
RRIFs
RESPs
Savings Bonds
Term Deposits
Mutual Funds


RRSP - Registered Retirement Savings Plan

RRSPs are a plan to help you save for a worry free retirement. Surprisingly, few people are adequately prepared for retirement. The general rule is that you will need 60% to 80% of your current gross income to maintain your current standard of living. With longer life expectancies and changing government retirement allowances, retirement planning is an important aspect of a happy and secure retirement. You are investing money when you can most afford it, during your peak earning years, to build up a comfortable retirement fund.

RRSP contributions, within limits, give you a tax deduction today and tax-deferred growth within the plan for tomorrow. Spousal RRSPs also allow for income splitting. You can contribute to a spousal plan, allowing you to take advantage of the tax deduction while providing equal benefits in the future for you and your spouse, which may save taxes.

The Peoples Credit Union offers several investment products for your RRSP needs. Below is a list of the products available at the Credit Union.

Principal Guaranteed RRSP Investments

• Both Canada Savings Bonds (CSB) and Canada Premium Bonds (CPB) are available.
• Term Deposits are fast and easy to set up. Your investment is solid and secure with guaranteed rates and varying term lengths of 1 to 5 years to fit your needs.
• Index-Linked and Global Blue term deposits are also offered. With both products, your principal is guaranteed and they’re RRSP eligible. You can take advantage of stock market gains without mutual fund administration or management fees. Returns on your deposits are based on the performance of the S&P/TSX 60 Index. The return is not dependent upon the performance of a portfolio manager.