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Registered Retirement Savings Plans (RRSP)
Maximize your retirement savings with tax benefits on your investments.
Earn up to $3,750 with a new eligible registered account.*
*Min deposit and eligible PAC required. Conditions apply.
Why invest your money with RRSP
Contributions you make to your RRSP reduce your taxable income while your investments grow on a tax-deferred basis.
What is an RRSP?
RRSP helps you save for retirement. While there are several kinds of registered savings plans, they all have the same important feature: you don’t have to pay income tax on the money you earn from your investments while they’re in the plan.
How much can I contribute?
RRSP allows you to make tax-deductible contributions each year, either in a lump sum or through regular Pre-Authorized Contributions (PACs). The maximum you can contribute each year is set by the Canadian government and depends on your income.
What else can I use the money for?
Funds in an RRSP are eligible for Canadian government programs that can help you buy your first home or pay for education for you, your spouse, or your common-law partner.
How would you like to build your RRSP?
Guided investing with Scotia Smart Investor
Earn a 1.5% cash bonus on transfers, up to $3,750.* Learn more.
Invest in mutual funds, GICs, and more.
Reach your goals with personalized recommendations. Learn more.
Self-directed investing with Scotia iTRADE®
We now offer 200+ commission free ETFs.† Learn more.
- Start direct investing online to trade stocks, ETFs, and more.
Track your entire financial picture, all on one screen. Learn more.
New to Scotia or want to speak to an advisor?
Open an account and get personalized investment support from a Scotiabank advisor.
Building your RRSP
Your RRSP can contain a variety of investments, such as cash, mutual funds, and GICs. We can help you build an investment portfolio that’s right for you.
Guaranteed Investment Certificates (GICs)
A worry-free investment product that keeps your principal investment safe and has a guaranteed rate of return.
Savings Accelerator Account
Earn a competitive interest rate on your money as it grows, with no monthly account fee.
Available in registered§ and non-registered plans.
Scotia Essentials Portfolios™
Cost-effective ETFs and mutual funds, together in one portfolio. Scotia Essentials Portfolios.
Mutual Funds
Mutual funds deliver instant diversification and professional money management in a cost-effective and convenient solution.
Build a plan for your future with Scotiabank
Get personalized advice from our team of advisors and investment specialists across Canada.
Connect with us in a way that’s convenient for you. Scotia advisors are available in every branch to help you understand, plan, and execute the right financial plan.
Monitor your investments digitally with online and mobile banking. Our digital banking guides show you how to take care of your banking using your mobile phone, tablet, or computer.
Open an RRSP
See available options to open your RRSP account.
Online appointment booking
A quick, easy, and secure way to connect with a Scotiabank advisor matched to your needs.
Have a question?
We’re ready to give you advice.
Frequently Asked Questions
Not sure if this is the account for you?
This account might not be right if you
- Do not have available contribution room
- Are turning 71 this year - since you can only hold and contribute to an RSP until the year in which you turn 71
Discover better options
The Investment Companion Booklet includes important information about our products, services, and fees.
The Scotiabank Savings Accelerator Account may be opened within the following registered investment accounts - TFSA, RRSP, RESP, RRIF and RDSP.
Refers to Scotia iTRADE's brokerage commission for online trade execution only. Does not take into account fees, charges, expenses or commissions imposed by the fund companies, all of which can be associated with ETF investments. You should carefully consider the fund's investment objectives, risks, fees, charges, expenses and commissions before investing. The prospectus contains this and other important information about the fund. Please read the prospectus carefully before investing. Funds are not guaranteed; their values change frequently, and past performance may not be repeated. In order to qualify for our "commission-free ETFs" offer ("Eligible ETFs") trades of Eligible ETFs must be placed online or by phone via Teletrader. You will be charged our regular equity commission depending on the pricing tier for which you qualify (see online fee schedule) on the sale of any Eligible ETFs held for less than 1 business day. Add $65.00 for telephone representative-assisted trades. Scotia iTRADE reserves the right to modify or cancel this offer at any time without notice.
Please note that this list of Eligible ETFs is subject to change without notice. The links to the ETF issuers’ websites are provided as a convenience only and are not to be construed as investment advice or as a recommendation to buy, sell or hold any particular security or to follow any particular investment strategy. No ETF product, or any information provided by or available through any ETF provider, or through any of their respective websites, has been endorsed, validated or approved by Scotia Capital Inc. or its affiliates, and neither Scotia Capital Inc. nor any of its affiliates is responsible or liable therefore, or for any third-party products, services, opinions, information or prospectus content of any ETF providers. Scotia iTRADE does not provide investment advice or recommendations, and you are responsible for your own investment decisions.
Scotia iTRADE® (Order-Execution Only) is a division of Scotia Capital Inc. (“SCI”). SCI is regulated by the Canadian Investment Regulatory Organization and is a member of the Canadian Investor Protection Fund. Scotia iTRADE does not provide investment advice or recommendations and investors are responsible for their own investment decisions.