Tax Free Savings Account (TFSA)

A TFSA is a savings plan that allows you to grow your savings, tax free. It is the perfect solution for your short, medium and long-term savings projects, like paying for a trip, buying a home or creating an emergency fund.

Registered Retirement Savings Plan (RRSP)

An RRSP can help you save money for your retirement, tax-deferred. Additionally, contributions to an RRSP lower your taxable income, which leads to more tax savings.

Non-Registered Savings

With this flexible savings plan, you can invest even more for your personal projects and retirement when you have reached your RRSP or TFSA contribution limit.

Registered Retirement Income Fund (RRIF)

A RRIF acts as an extension of a registered retirement savings plan (RRSP). It allows you to utilize the savings you have accumulated during your working life. You have until December 31st of the year you turn 71 to convert the amounts invested in your RRSP into a RRIF.

First Home Savings Account (FHSA)

The First Home Savings Account (FHSA) is a tax-smart savings tool for people aiming to purchase their first home, providing them with a strategic path towards homeownership.

Registered Disability Savings Plan (RDSP)

The RDSP, designed for individuals with disabilities, offers a structured savings approach for future financial security, complemented by government matching programs like the Canada Disability Savings Grant and Canada Disability Savings Bond.

Locked-In Retirement Account (LIRA)

Are you on the verge of changing jobs and want to know what will happen to the pension plan you have with your current employer? A LIRA allows you to transfer the money saved in a pension plan with a former employer to an individual plan.

Life Income Fund (LIF)

If your savings have been placed in a locked-in retirement account (LIRA), a life income fund (LIF) will allow you to periodically withdraw the funds you require to live comfortably.


In the event of a temporary cash shortage, an RRSP loan allows you to continue to contribute to your RRSP.

Using your tax refund, you can increase your RRSP contributions while keeping the same monthly payments to pay off your loan.

Registered Education Savings Plan (RESP)

An RESP is your key to securing a bright future for your child’s education. This tax-advantaged savings plan allows you to invest in their academic journey, ensuring financial support for post-secondary expenses.

Prescribed Retirement Income Fund (PRIF)

A PRIF offers a flexible way to receive income in retirement from pension plan savings. It allows regular withdrawals, providing financial stability and peace of mind, with minimum withdrawal rules ensuring efficient income management during retirement.

Spousal Retirement Savings Plan (Spousal RRSP/RRIF)

Enhance your joint retirement plan with the Spousal RRSP/RRIF. Contribute to your spouse’s account for tax-efficient income splitting, reducing your combined tax burden and securing a comfortable post-work life together.

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