Registered Retirement Savings Plan

Would you answer yes to any of the following?

• You plan on having an active and enjoyable retirement
• You want financial security after you retire
• You have dependents that may continue to rely on you past retirement age
• You’re a novice to investments, and want to make a safe choice
• You have a company RRSP, but want the additional comfort of your own RRSP
• You’ve just started your career, and want to start saving for your future, even if it’s small

If any of the above sound like you, it’s time to talk to us about your RRSP.

A CIBC RRSP simplifies investment for you. If you are unsure of whether to invest in term deposits, shares, mutual funds, or government bonds, we’ll make those decisions based on your wishes. 

Tax breaks. At maturity, only ¾ of the total is taxed if you withdraw all the cash. The rate is 25%. The remaining ¼ is tax free.

• Open an account and make a deposit. The initial amount may be modest
• Decide the maturity date
• Decide whether you want to select investments yourself or have us manage them
• Investments may include shares, mutual funds, and fixed income instruments such as fixed (term) deposits or bonds
• Contribute to the account over the years. This can be done with an annual lump sum or by monthly standing order
• As your investments grow, the gains are then ploughed back into your account
• When the RRSP’s maturity date is reached, withdraw your funds. You may also roll some or all of them into a single premium annuity to continue tax-deferred earning

St. Lucia RRSP clients

Since the plan is registered with the St. Lucia Inland Revenue Service, you can also take advantage of tax savings TODAY on the savings you've put aside in your RRSP for TOMORROW.

Your RRSP can even be a source of tax-free finance for your first home. So, you benefit both while you build your nest egg and when you retire.