Get retirement ready with an RRSP
With a Registered Retirement Savings Plan, you can invest money when you can most afford it – during your peak earning years – to build up a comfortable tax-sheltered retirement fund.
Enjoy the benefits of an RRSP
Lower your tax – Contributions are tax deductible, so investing in an RRSP will reduce your annual income tax.
Grow your money – Your earnings grow tax-free until you withdraw them in retirement.
Invest what you can – Even small automated payments from your chequing account will add up to a substantial contribution over time, with no stress.
Contribute until you’re 71 – Make annual contributions up to 18% of your income, up to the age of 71.
Borrow from your RRSP – You can borrow a portion of your RRSP to fund continued education or the purchase of your first home.
Hold a number of investments – Qualified investment such as term deposits, investment savings accounts, stocks and mutual funds can be held in your RRSP.
Annual contribution limits
Your tax-deductible RRSP contribution limit is the lesser of these two items: 18% of your earned income in the previous year or the annual RRSP limit, which is $33,810 in 2026. For the 2025 tax year, the deadline for contributions is March 2, 2026.
For complete details about how the RRSP deduction limit is determined, visit the Canada Revenue Agency.
About deposit protection
Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Learn more about deposit protection.
Put the power of investing to work for you
Compare the TFSA and RRSP.
Now available:
Updated Terms and Conditions for the Declaration of Trust
New terms and conditions are now available for existing RSP account holders.
Download a copy here or check in with your branch team to obtain a copy.
No matter your retirement plans, we can answer all of your questions and help you maximize your retirement savings.
Use our RRSP calculator to estimate how much your retirement savings will be worth when you reach retirement, and how much income you can plan to receive.
