Foam Lake Credit Union

Ready to use your RRSP savings - let's talk about a RRIF.

A Registered Retirement Savings Plan (RRSP) will help you retire comfortably. Contributions and interest earned are tax exempt, as long as they remain in the plan.

Lower your tax – Regular contributions to your RRSP will reduce the tax you owe, especially during your higher income years.
Grow your money – Because your RRSP is tax-deferred, your earnings will be tax sheltered until you withdraw them in retirement.
Contribute until you’re 71 – Make annual contributions up to 18% of your earnings up to a government-mandated limit until you turn 71.

Use a portion of it for your first home without penalty – Speak to a member of our team to learn more.
Use it to fund part of your education – If you want to continue your education, borrow a portion of the funds without penalty. Speak to us to learn more.
Multiple investment products are available within an RRSP account – Term deposits, mutual funds*, stocks and bonds* included.

Need a hand?

No matter your retirement plans, our experienced team will tailor their advice to help you maximize your retirement income to match.

*Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Unless otherwise stated, mutual funds, other securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions.

Book an Appointment

When should I retire?

Our Retirement Savings Calculator will help you figure out how much your retirement savings will be worth at retirement, and how much income they'll provide.

Calculate Now

Enjoy the benefits of an RRSP

Need a hand?

When should I retire?