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Registered Retirement Savings Plans (RRSP)

Right for you if:

  • You're planning for retirement
  • You want a choice of investment options
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What is an RRSP?

  • A personal savings plan registered with the Canadian federal government
  •  An investment portfolio—your designated retirement savings. It can contain a variety of investments including: RRSP savings deposits, treasury bills, guaranteed investment certificates (GICs), mutual funds, bonds, and equities
  •  Tax-deductable—Contributions you make to your RRSP help reduce your taxes. Your RRSP has the potential to grow quickly since any income from your investments is allowed to compound on a tax-deferred basis

What is a Spousal RRSP?

Provides you with income splitting opportunities to reduce your family's overall tax burden. We also offer locked-in plans.

PLUS:

Tax Benefits

  • Your annual RRSP contributions can be deducted, reducing the amount you pay in income tax that year
  • Withdrawing from your RRSP at retirement, you will benefit from a lower tax rate

 

Additional options to help you achieve your retirement goals

 

Pre-Authorized Contributions

  • Choice of contribution amounts and investment options
  • Potential for dollar cost averaging

 

More details

Self-Directed RSPs

  • Simplify the management of your portfolio
  • Reduce your administration and brokerage costs
More details

Bank the Rest

  • Spend and save just by using your Scotiacard debit card
  • Automatically round up every purchase you make
More details
Tools It's easy to achieve your goals.

Scotia RRSP Reality Check

Find out how well your current savings and future contributions will provide for your retirement.

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Scotia Goal Setter

Review your personal and finance goals and rank them in order of importance.

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Scotia RRSP Catch-Up Line & Loan calculator

See the benefits of boosting your RRSP and calculate repayment terms.

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Pay Yourself First Tools

See how easy it is to achieve your dreams through regular and automatic savings.

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Videos See our latest demos and videos.
Difference between TFSA & RRSP (Demo) | Transcript
Want to learn the difference betweenTFSA & RRSP?. Watch video

Ready to apply

What do I need to apply?
  • By phonePrefer to talk to us? 1(800)268-9269 Mon-Fri (8am-6pm)
  • In person Make an appointment at your local branch Find a local branch
  • Online Contribute to your RSPs through Scotia OnLine® Sign In
  • 1 Qualifying Students are full-time students enrolled at a Canadian university, community college, CEGEP or other recognized post-secondary institution. To take advantage of the Student Banking Advantage Plan account benefits, you will need to provide your branch with proof that you are enrolled full-time at a qualifying post-secondary institution each academic year prior to November 30th. When you are no longer enrolled full-time or you have not presented proof of enrolment, the plan will be removed and the account will automatically be converted to an account that is suitable to you based on your recent transaction behavior. You will be reminded by mail (each October, if necessary) to provide your proof of enrollment and will be advised of the pending change to your account type.