​Registered Retirement Savings Plan



The smart way to save for retirement

RRSP: Registered Retirement Savings Plan

Save for your retirement tax-free with a lifetime of benefits

Available for working Canadians, RRSP contributions are tax deductible and can lower the amount of income tax you’ll pay during your highest earning years. Funds in an RRSP grow tax-free as long as the money stays in the account.


  • Key benefits
    • Tax incentives
      Tax deductible contributions and tax-exempt earnings
    • Contribution flexibility
      Your spouse or common-law partner can also pay into your plan
    • Withdrawal options
      Withdraw to purchase your first home or continue your education
    • Investment options
      Variety of investment options including term deposits and mutual funds
    • Annual contribution limit
      Your annual limit is calculated at 18% of your previous year’s income, up to the annual maximum
    • Contribution room
      Contribution room is added each year and unused room is carried forward
    • Contribution deadline
      Contribute up to 60 days after the end of each year
    • Receive an annual cash bonus
      Earn cash on interest earned during the previous calendar year through memberSHARE*

*memberSHARE Loyalty Program dividend, bonus and rebate percentages are announced annually and payment is not guaranteed. A $5 minimum payment per account is required to receive payment.

What goes into an RRSP?

You can include a variety of investments within your RRSP to match your investment style and make the most of your money.

​Term
deposits

Mutual
funds

Segregated funds & annuities

Term deposit

Term deposits grow your money faster than a savings account 

With flexible and fixed terms, higher interest rates, and 100% deposit insurance, term deposits help you reach your savings goals faster.

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Investment tips

First Time Homebuyer’s Plan

Withdraw funds from your RRSP to buy or build your first home.

  • Withdraw up to $35,000, or $70,000 per couple
  • Repay with zero interest over a 15-year period
  • Withdraw funds from more than one of your RRSP accounts
  • To qualify, you must be a first-time home buyer and live in the home as your main residence for at least 1 year after buying or building


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Investment tips

Lifelong Learning Plan

Withdraw money from your RRSP to fund your education.

  • Withdraw up to $20,000
  • Repay with zero interest over a 10-year period
  • Finance full-time training or education for you, your spouse, or common-law partner
  • Borrow again once you pay back your Lifelong Learning Plan


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memberSHARE eligible

Earn when you save
Registered Retirement Savings Accounts are memberSHARE eligible. Earn cash bonuses every year when you bundle qualifying products.

"I'm happy to be on a program where I earn more than I expect each year."

- Sara J.

Investment Advice

Should I get an RRSP loan?

Getting an RRSP loan can help you catch up on your retirement savings and help boost your savings plan. RRSP loans offer low interest rates, extra payment options, and an annual cash rebate through the memberSHARE Loyalty Program.

With an RRSP loan you can also take advantage of the 60 day payment deferral option and push off your first loan payment until you receive your tax refund. It’s a savings win-win.

Investment advice

Work with an expert

From savers to investors, financial advisors and financial planners offer support for every investment style. Our experts are ready whenever you are to meet with you and gain a better understanding of your goals, investment needs and priorities to build the right plan for your future.

Book an appointment

RRSP vs. TFSA

RRSPs can help you save on year-end taxes in your highest earning years and save for retirement. On the other hand, TFSAs allow you to grow your savings in a fully accessible tax-sheltered savings account. Consider a combination of both for a balanced savings plan that meets your short and long term goals.

Choose Aldergrove Credit Union

Earn cash back

Earn bonuses and rebates on products, plus dividends on equity shares paid annually.

3,600+ ATMs

Access your money across Canada with over 3,600 free ATMs and six local branches.

Digital banking tools

Budget, bank and learn using online and mobile banking solutions 24/7.

No-limit banking

Get excited to save and spend with affordable account options including unlimited transactions.

How to reach us

Email

Send us an email and get a response within one business day.

Call

Monday - Friday
8:30 am - 5 pm
Saturday 8:30 am - 3 pm

Meet with us

Book an appointment with a
Financial Advisor.

Visit a branch

Stop by any branch and we promise you’ll get a smile.

All deposits are guaranteed by the Credit Union Deposit Insurance Corporation of British Columbia.
Mutual funds and related financial planning services are offered through Qtrade Asset Management Inc.
Mutual funds and related financial planning services are offered through Qtrade Asset Management Inc.Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual fund securities and cash balances are not insured nor guaranteed, their values change frequently and past performance may not be repeated.

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