Versatile Portfolios™ RRSP
Whether you think of your RRSP as retirement savings or as a way to realize immediate tax savings (or both), we’ve got a Co-operators Portfolio custom built for you that you can start investing in for as little as $50 a month.
The security of segregated funds
Segregated funds, available only from insurance companies, allow you to grow your retirement savings with a guarantee on your investment capital. This means that no matter what happens in the markets between now and your retirement, a significant portion of your initial investment will be guaranteed.
The tax-deferred convenience of an RRSP
There are two major benefits to RRSP contributions:
Pay less income tax
Your RRSP contributions are deductible from your taxable income, and that means either a bigger tax refund or a smaller tax bill. While you’ll pay tax when you withdraw the money from your RRSP at retirement, it will likely be at a lower rate because of your lower income.
You can start at any time
With an RRSP, your savings and interest grow sheltered from tax. You can gain a lot of financial momentum by contributing to your retirement plan early. But, don’t worry if you haven’t started saving in your twenties; it’s never too late to start, especially with the added protection of segregated funds.
If you want to know more, we’ve put together a simple explanation of what RRSPs are all about.
Why use an RRSP instead of a Tax Free Savings Account (TFSA)?
TFSAs don’t allow you the up-front tax savings of RRSPs. In addition, your annual contribution room for an RRSP is 18% of your income, while TFSA contributions are currently capped at $5,500 (indexed annually). TFSAs are a good addition to RRSPs, but not a replacement for them in most situations.
How to buy your Versatile Portfolios RRSP
Funds are sold in portfolios according to your investment risk level. You can pick from the funds below if you already know your level of risk, or use our risk assessment tool if you want to be sure. You can choose a more aggressive or conservative investment portfolio at any time.
Contact one of our Financial Advisors to purchase your recommended portfolio or have them go through your needs and assess your investment style with you.