Registered Retirement Savings Plan
Invest in your future
Plan Your Future with RRSP
With the BeniPlus Wallet, employees can invest part of their benefit dollars into a Group Registered Retirement Savings Plan (RRSP) through our partner, The Co-operators.
Employees decide how much to contribute.
Employers can match or add extra contributions.
Savings grow tax-deferred until withdrawal, helping you keep more for retirement.
Why Choose an RRSP?
Grow tax-free: Investments grow tax-deferred; withdrawals in retirement may be taxed at a lower rate.
Reduce taxable income: Contributions lower your taxable income for immediate savings.
Access for big goals: Use the HBP (up to $35,000) for your first home or LLP (up to $20,000) for education — tax-free if repaid on time.
RRSP Quick Hitters
Max Contribution (2024): $31,560/year
Contribution Limit: Up to 18% of previous year’s earned income
Age Range: Contribute from age 18 to 71
Carry-Over Room: Unused contribution room can be carried forward indefinitely
Tax Benefits: Reduces taxable income + tax-deferred growth
Flexibility: Use for home purchase or education funding through HBP or LLP
Plan Your Future Today
Book an appointment now and take the first step toward building your retirement with an RRSP.