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Retirement savings

  • Retirement Savings (RRSP)

Save on tax now

Annual RRSP contributions are tax deductible, which means the more you contribute the less tax you owe each year.

Defer tax on growth

Interest earned in an RRSP is tax-deferred until its withdrawn in retirement. At which point, you’ll likely pay a lower tax rate. 

Grow it your way

Your RRSP can hold a range of investments, from mutual funds to GICs, creating a custom portfolio to match your goals.

Enjoy expert advice

All our RRSPs and RRIFs are backed by expert advice, ensuring you stay on track towards your dream retirement.


Before retirement

Registered Retirement Savings Plans (RRSPs)

An RRSP is a great way to make the retirement you want a reality – while saving on taxes today. It can hold almost any kind of investment and the interest you earn is tax-sheltered, so your savings grow faster.

Not sure where to start? Our experts can help you pinpoint the ideal investment mix.

During retirement

Registered Retirement Income Funds (RRIFs)

Investing right doesn’t have to end when you retire. Transferring your RRSP to a RRIF will keep your nest egg growing tax-deferred, while offering you the flexibility and security to enjoy retirement.

Not sure how to withdraw and when? We can help you plan it all out with government minimums in mind.  


Wealth management

Financial planning shouldn’t be cookie-cutter. We help you create a tailored plan that matches your goals.

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Retirement calculator

Try our retirement calculator to work out what your payment plan could look like. 
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Our latest & greatest rate.

Designed to meet your everyday needs.
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RRSP's explained.

If you want to be sittin’ pretty in your golden years, RRSPs can help. Learn all you need to know about this tax-free investment.

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Flexible to fit you.

Not sure if you’ll need the funds? We have options that allow you to redeem before your GIC term ends.
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Tired of paying tax on investment growth?

You can contribute to your TFSA and watch it grow faster, because you’re not paying pesky taxes on the interest earned.

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Are you prepared for retirement? Grab a seat by the fire as we explain these two retirement-related acronyms.
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At Northern Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA)

Download the Deposit Insurance Reserve Fund (DIRF) Brochure

Deposits insured through FSRA Financial Services Regulatory Authority of Ontario.


*To a maximum of $500 per year per beneficiary and $7,200 over the lifetime of the RESP per beneficiary.