Retirement

RRSP Builder Account

An easy and affordable way to make regular RRSP contributions.

Defer your taxes

Contributions are immediately tax-deductible—the investment income you earn isn't taxed until you access the funds in your Registered Retirement Savings Plan (RRSP).

Set it. Forget it.

Have the flexibility to set up recurring contributions from your paycheque - choose from weekly, bi-weekly, semi-monthly or monthly contributions.

Keep it fee-free

There are no fees associated with the RRSP Builder Account, and you can withdraw cash whenever you need to.1

Key product details

Interest earned See current rates
Fees No fees
Redeemable Withdraw anytime1

Frequently Asked Questions

Interest is calculated on the lowest daily balance, accrued monthly and paid semi-annually on June 30 and December 31.

In many cases, any withdrawals you make from your RRSP Builder Account will be taxed at your current income tax rate at the time you make the withdrawal.

However, if you participate in the federal government's Home Buyers Plan (HBP) or Lifelong Learning Plan (LLP), you can withdraw funds from your RRSP and the tax won't be withheld.

The Home Buyers' Plan is a program that allows you to withdraw up to $35,000 in a calendar year from your RRSPs to buy or build a qualifying home for yourself or for a related person with a disability

The Lifelong Learning Plan allows you to withdraw amounts from your Registered Retirement Savings Plan to finance full-time training or education for you or your spouse or common-law partner.

Please explore the links above for full details and disclosures about each plan and see if you qualify.

There is a maximum to how much you can contribute each year, and that limit—called an RRSP contribution limit—is based on your annual income. Can't make your full contribution one year? No sweat. Your contribution room can be carried forward until you’re 71, when you can no longer have RRSPs, so you can contribute more money in subsequent years until then.

Yes. You can put part or all of your RRSP contributions into a plan in your spouse's or common-law partner's name. This will be referred to as a Spousal RRSP.

In the year you turn 71, your RRSP matures and you claim the income (both the principal amount and the interest earned) from your investment.

Don't worry about getting a big tax bill. You have a number of retirement income options that allow your retirement savings to continue to grow in a tax-sheltered environment. Only payments to you from your plan are immediately taxed, so you can spread the tax on withdrawals over your retirement years.

Ready to get started?

Start shaping the retirement you want with the funds you have—put them in an RRSP Builder Account.

Need help?

Our Client Care team will be happy to assist.