RRSPs | RESPs | RRIFs | Mutual Funds | Investment Tips

rRsps

Registered Retirement Plans (RRSP)
Registered Retirement Savings Plan (RRSP) is a government-approved savings plan designed to help you save for retirement. Contributions are tax deductible and interest earned in the plan is tax-sheltered.

RRSP'S Features

• Up to 5year terms
• Great competitive rates
• Mutual funds* are offered through Credential Securities Inc.
• Fixed rate or variable rate plans
• Instant tax receipts available during RRSP season

Fixed Plans Offer Security
A fixed plan guarantees your rate of return for a chosen period of time from 90 days to 60 months. These long term rates are often the most attractive that the Credit Union offers, but funds in fixed plans can not be transferred or withdrawn until the time of maturity.

Variable Plans Offer Flexibility
Members who may need access to funds often prefer our variable valuable rate plan. While in this plan, funds are totally accessible for withdrawal (subject to government withholding tax) or transfer to a fixed plan. With a variable rate RRSP, the interest rate fluctuates with market conditions, ensuring you are always earning a fair return on your investment.

RRSP Through Payroll Deduction Makes It Easy
For those who want to avoid the sting of a large annual RRSP deposit, we offer payroll deduction. Once you are signed up, we will automatically withdraw a pre-authorized amount from each pay and deposit it to your RRSP. While others are scrambling to find funds for their annual deposit after Christmas, you can sit back and wait for your tax receipt. Now that's convenience.

Deposit Insurance Corporation of Ontario (DICO)
Retirement plans at Virtual One Credit Union are insured by the Deposit Insurance Corporation of Ontario (DICO) with unlimited insurance for deposits in registers plans. A brochure explaining this coverage in detail is available at the credit union office.