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RRSP - Registered Retirement Savings Plan
Our range of RRSP investment options give you both stability and growth. Our Financial planning staff is committed to providing high-quality service and personalized advice to help you plan and manage your retirement savings, according to your objectives, and your values. Meet with an MSCU investment professional today to plan an investment strategy that works for your life.
Options
Mutual Funds*
Socially Responsible Investing (SRI)
MSCU takes a leading role in Socially Responsible Investing (SRI). Ask us about Meritas Mutual Funds, the family of Ethical Funds® mutual funds, and our own SRI review process for screening other top-performing mutual funds. Credential Asset Management Inc. Mutual Funds Investment Specialists at MSCU have the latest information and investment options to assist you in making RRSP investments that reflect your values.
Term Deposits
MSCU term deposits offer flexibility, security, and competitive returns to your RRSP portfolio. With an MSCU term deposit, you are assured that your investment will earn a pre-determined rate of interest over the life of the term.
At MSCU, each term deposit RRSP contract is insured for up to $100,000. For further information on deposit insurance coverage, please ask for a Deposit Insurance Corporation of Ontario (DICO) brochure from your branch or go to www.dico.com
Index-Linked Term Deposits
If you prefer the security of a term deposit but want the potential returns of an equity-based investment, ask about Index-Linked term deposits that are available at MSCU. Performance is based on the growth of a market index (like the S&P/TSE 60) or on a select portfolio of stocks. If the index/portfolio does well, so does your investment. If the index/market value declines, your initial investment is guaranteed.
Pre-authorized Contribution Plans (PAC)
With a PAC plan, you can pre-authorize MSCU to take a set amount of money from a designated MSCU account each month and invest it as conservatively or aggressively as you choose. An accredited MSCU financial planning professional can set this up for you and help you decide what type of RRSP investment works best for you. With a PAC plan, you gain the benefit of investing early in the year and collecting interest on that money for a longer period. You will be surprised to see how much of a difference this makes over time.
RRSP Loans
If you have not been making the maximum allowable contribution to your RRSP each year since 1991, you probably have unused room in your contribution limit. To begin catching-up, first meet with your accredited MSCU financial planner/advisor and arrange for an RRSP loan at rates as low as prime. Your catch-up RRSP contribution may result in an additional tax refund that you can use to pay down your RRSP loan.
RRIFs & LIFs
Registered Retirement Income Funds are a flexible tax-deferral vehicle that members can transfer their RRSP, Non-Lock-In, or Deferred Profit Sharing funds into when they retire. Again, RRIF Term Deposit, Variable rate savings account, and mutual fund* options are available
Members retain full control of these retirement funds, which are intended to provide regular income. There are no administrative fees.
A Life Income Fund (LIF) holds funds locked-in under pension legislation. It is a non-commutable RRIF to age 80, at which time the remaining funds are used to purchase a life annuity.
Professional Advice
Now that you know about some of our RRSP investment products, contact your branch and meet with an accredited MSCU Financial Planning Professional to plan your route to retirement.
With up-to-date information on ever-changing income tax guidelines and investment regulations, we can help you navigate through a wide range of complex situations.
Together, we can forge the path to your financially secure retirement.
*Mutual funds are offered through Credential Asset Management Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual fund securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. ®Ethical Funds is a registered mark owned by Ethical Funds Inc. and is used under licence. Ethical Funds® are sold in all provinces and territories across Canada.
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