Registered Retirement Savings Plans (RRSP)

Save for retirement and reduce taxable income.

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Earn a 2% cash bonus on transfers into an eligible registered account, up to $4,000.^*Learn more

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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 open your RRSP?

Explore different ways to open and manage your RRSP.

Guided investing with Scotia Smart Investor

Earn a 2% cash bonus on transfers into an eligible registered account.^* Learn more.

Set your goals and get personalized investment recommendations. Learn more
Invest in mutual funds, GICs, and more.

Self-directed investing with Scotia iTRADE®

Get up to 3% cash back^†. Get started today.

Take control of your own investments using our online trading platform.
Start direct investing online to trade stocks, ETFs, and more
Track your entire financial picture, all on one screen. Learn more.

Get started with Scotia iTRADE

New to Scotia or want to speak to an advisor?

Our Scotiabank advisors are here to offer personalized advice before you invest.

Open an account and get the support you need to help reach your investment goals

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Explore investment products for 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.

Recommended for: Goal-based investing

Scotia Essentials ETF Portfolios™

Get a diversified mix of ETFs and mutual funds in an all-in-one solution with Scotia Essentials ETF Portfolios.

Learn about Scotia Essentials ETF Portfoliosᵀᴹ

Recommended for: Lower risk

Guaranteed Investment Certificates (GICs)

A worry-free investment product that keeps your principal investment safe and has a guaranteed rate of return.

Learn about GICs

Recommended for: Short and long-term growth

Mutual Funds

A mutual fund lets you invest in a mix of investments chosen and managed by professionals.

Grow your money

Recommended for: Short-term savings goals

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.

Accelerate your savings

Scotia RSP Catch-Up® Line of Credit

Borrow funds to maximize your RRSP contribution – at a lower interest rate of Prime + 1%.¹

Learn more

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.

Frequently asked questions

A Registered Retirement Savings Plan (RRSP) is a type of investment vehicle that helps you grow your retirement savings. One of the main benefits of an RRSP is that you defer paying taxes on the money you contribute today and any investment income earned, until years later when you withdraw your money in retirement.

RRSPs allow 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.

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.

Not sure if this is right for you?

Need more information?

Have a question?

We’re ready to give you advice.

Call us at 1-888-777-4614

Scotia Smart Investor

Investment tools & calculators

Important information about our investment accounts,products, services, and the fees that apply to them.

Investment Companion Booklet

765 KB : application/pdf

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Legal Text: The Scotiabank Savings Accelerator Account may be opened within the following registered investment accounts - TFSA, RRSP, RESP, RRIF and RDSP.

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