Registered Retirement Savings Plan (RRSP)

One highly effective tool for building up retirement assets in a tax-sheltered setting while also reducing your income tax for the current year is the registered retirement savings plan (RRSP). If you think you can’t invest in an RRSP, think again.

A TrustLife RRSP Loan allows you to start investing now or to top up your contributions on your existing RRSP. The earlier you invest, the closer you are to a bright and secure retirement. Get your RRSP working for you sooner with a TrustLife RRSP Loan

Principal Protected Investments

When it comes to investment products we have you covered. We carry a extensive selection of Principal Protected financial products to guarantee that we have the right diversification to suite your needs.

We can assist you with the following:

  • Non-Registered Investments
  • Investment and RRSP Loans
  • Group RRSP’s

Guaranteed Interest Accounts

  • Flexibility to decide how much you want to invest
  • Interest based on the rate in effect
  • Terms varying from one to five years
  • Redeemable and non-redeemable registered deposits
  • Redeemable and non-redeemable non-registered deposits
  • You can receive monthly interest payments

Immediate Annuities (Competitive rates offered)

  • Option of life or prescribed annuities;
  • Possibility of receiving your annuities monthly, quarterly, semi-annually or annually;
  • Guaranteed periods available on life annuities.

Home Buyer’s Plan (HBP)

The Home Buyers’ Plan: Fulfill your dream of becoming a homeowner
The Home Buyers’ Plan (HBP) is a winning formula that enables you to withdraw funds from your RRSP to help you purchase your first home.

How do I qualify?
You are eligible if neither you nor your spouse has owned a primary residence (your own home) within the past five years.

The HBP allows you to:

  • Withdraw a maximum of $20,000 from your RRSP ($40,000 for couples) tax free.
  • Use this amount as a down payment toward the purchase of your home.
  • Refund your RRSP withdrawal over 15 years, interest free.

Not enough money in your RRSP?

Don’t let this prevent you from fulfilling your dream of owning your own home. There’s a solution: the HBP loan. To qualify, simply provide proof that your mortgage has been approved by a financial institution.

An HBP loan allows you to:

  • Take out a loan up to your ceiling contribution amount (by claiming unused RRSP contributions from as far back as 1991).
  • Deposit the funds in an RRSP for 90 days.
  • Withdraw the funds from your RRSP after 90 days to repay the loan.
  • Receive an income tax receipt and use your tax refund as a down payment on your first home.
  • Take advantage of a two-year grace period after you obtain an HBP loan before starting to repay your RRSP over 15 years.

Find out more about the Home Buyers’ Plan today. It’s a winning formula!

To find out how you can shift your investment portfolio to the next gear or to simply start one please contact one of our advisors today for a personal and confidential assessment at: info@trustlife.ca