Retirement Savings Plans (RSP)

Make the most of your RSP with simple Scotiabank solutions.

A Registered Retirement Savings Plan (RRSP) is an investment account with special tax benefits to help you maximize your retirement savings.

  • Contributions are tax deductible - helps reduce your taxes.
  • Income from your investments is allowed to compound on a tax-deferred basis.

You can invest in cash, guaranteed investment certificates (GICs), mutual funds, bonds, and even equities.

Pre-Authorized Contributions

The Pay Yourself First™ plan lets you make contributions regularly and automatically to your Retirement Savings Plan.

Pre-Authorized Contributions provides:

  • Choice of contribution amounts and investment options
  • The ability to build your registered savings easily
  • The potential for dollar cost averaging
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Self-Directed RSPs

Maximum diversification can be achieved through self-directed RSPs, which allow you to invest in the widest range of investments possible.

Self-Directed RSPs provide:

  • Adjust your portfolio at any time and take greater advantage of changing market conditions to earn potentially greater returns.
  • Simplify the management of your portfolio.
  • Reduce your administration and brokerage costs by dealing with one institution.
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Spousal RSPs

Understand the basics of how spousal RSPs can be an effective tool in planning for retirement.

Spousal RSPs provide:

  • Ability to contribute to your spouse's RSP
  • Income splitting opportunities
  • The potential to reduce your family's overall tax burden
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Scotia RSP Catch-Up™ Line of Credit

Top up any unused contribution room and maximize your RSPs

Scotia RSP Catch-Up™ Line of Credit provides:

  • Rates as low as Scotiabank Prime +1%
  • Flexible repayment terms, with deferrals up to 3 months
  • Opportunity to maximize both your current and previous years' contributions

More information that may interest you

  • 1 The 2.00% annual interest rate will be applied from December 3, 2012 to March 31, 2013 to the excess of the daily balance in the Investment Cash portion of a Canadian dollar RRSP over the closing balance in that account on December 2, 2012. For amounts not eligible for this offer, an interest rate of 0.15% will apply on Canadian dollar cash balances less than $5,000 and 0.25% on Canadian dollar cash balances $5,000 or greater. Other conditions apply. Visit your branch for the full Terms and Conditions of this offer. Interest will be calculated daily and paid monthly. All rates are subject to change without notice.