With rising government debt and increasing concern about the viability of existing public pension plans, RRSPs have become an important part of retirement planning.
Saving for retirement within the shelter of an RRSP provides two distinct advantages:
- It allows you to save more than you could outside an RRSP and to have it accumulate tax free as long as it is left in the RRSP.
- It defers the payment of taxes from high income earning years to your retirement years when income will probably be less and the marginal tax rate lower.
Meeting your financial goals requires a long-term plan. This plan must provide the growth required to meet your future income needs. It must also accommodate your tolerance for risk. At Community Savings we pride ourselves on going the extra mile to help hardworking British Columbians with their retirement dreams. We offer a wide array of competitive retirement planning options. One investment plan will not work for everyone. That's why we will help you tailor an investment plan that's right for you.
RRSP Demand Account
With so many options available, RRSP season can be a confusing time. You don't want to miss the deadline but you also don't want to rush into any investment decisions. There is a way to avoid the rush and confusion. Make your deposit to a RRSP Demand Account and then wait till you have the time to make a well thought out decision.
- Interest is calculated on the closing daily balance
- Compounded twice a year
- 2 transactions per month
Your deposit can be transferred to any one of our term products or transferred to a mutual fund* account at Credential Asset Management Inc.
RRSP Future Plan
Looking for an easy and affordable way to save for retirement? Community Savings has the answer. It's called Future Plan.
It's an RRSP monthly deposit savings plan that earns the one year term deposit rate. All you need is an initial deposit of $50 and then decide how much you want to contribute on a monthly basis (minimum $50 per month). Future Plan deposits are automatically withdrawn from your account so you won't ever have to scrape up the cash to stash for next year's RRSP contribution. After one year you can transfer your Future Plan contributions to any of our RRSP term deposits or to a mutual fund* account at Credential Asset Management Inc.
If you are looking for a secure investment that is guaranteed by the government and has a fixed rate of return, term deposits might be your answer. We offer innovative term deposits with features such as rate bumping, retro rates, and partial redemption.
- 180 days to 5-year terms
- Redeemable & Non-redeemable
- Unlimited deposit insurance
Index-Linked Term Deposit
S&P/TSX 60 Index
3 Year Term – Maturing 03/12/2020
5 Year Term – Maturing 03/14/2022
- Principal Guarantee
- RRSP/TFSA eligible or Non-registered term
- Available until March 1st
Scratch and Win
You could receive an additional interest rate bonus of 0.05%, 0.10%, 0.15%, 0.25% or double your interest! Eligible on non-stepped rate RRSP, RRIF and TFSA term deposits (min. $500 – max. $500,000). One ticket per investment. You must scratch this ticket in front of a Community Savings employee after choosing the length of term you would like to invest in; the bonus will be applied to that term. This bonus cannot be applied to Index-Linked terms.
Through Credential Asset Management Inc., a mutual fund dealer, Community Savings provides access to a large selection of mutual funds. Through in-depth, proprietary research and targeted product strategy, Credential Asset Management Inc. Mutual Funds Investment Specialists are able to tailor an investment plan for investors at any stage of the financial life cycle.
- Over 1,000 mutual funds
- Includes Ethical Funds®
- Great way to diversify your portfolio
* Mutual funds are offered through Credential 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 covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual fund values change frequently and past performance may not be repeated.
®Ethical Funds is a registered mark owned by Northwest & Ethical Investments L.P. and is used under licence.
®Credential is a registered mark owned by Credential Financial Inc. and is used under licence.