Registered Retirement Savings Plans

Whether you are starting your first job, starting a family, or during your peak earning years, RRSPs play an important role in your long term financial goal. No matter what stage of life you are in, your Credit Union can help you make the most of your allowable RRSP contributions.

Kingston Community Credit Union (KCCU) offers a great selection of investments to help grow your RRSP. Your KCCU advisor will customize the best RRSP plan for you – from term deposits to mutual funds* – we have access to products you want, with the expert advice to help make the most of your retirement years.

What is an RRSP?

A Registered Retirement Savings Plan (RRSP) is a savings plan that is registered with the federal government and available to most Canadians allowing tax-deferred investment. Contributions to your RRSP reduce your taxable income, which allows you to pay less tax now and build a larger retirement fund for the future. This investment is designed primarily for savings for your retirement years.

What investments are eligible?

An RRSP can hold a combination of eligible investments, such as mutual funds, stocks, bonds and ETFs *, Guaranteed Investment Certificates (GICs) and cash. 

The Basics

Canadians are living longer and more active lifestyles in retirement.  RRSPs can be an important part of your overall retirement plan, helping you to maintain your standard of living when you retire. Why RRSPs may be right for you:

  • Many financial benefits to regular investing
  • Choose from a variety of investment options, depending on your personal needs and preferences.
  • Pre-authorized contribution plans that make RRSP investing an easy and convenient way to build a strong retirement fund

If you do not have cash available, you may want to consider borrowing to invest in your RRSP. The cost of the loan is usually less than what you gain by growing your money tax-free.

Borrowing to Invest in an RRSP

If you do not have cash available, you may want to consider borrowing to invest in your RRSP. The cost of the loan is usually less than what you gain by growing your money tax-free.


Grow your retirement savings faster with pre-authorized transfers

Simplify your investing today! Avoid having to find a lump sum to invest every year right after Christmas by making regular contributions. Plus, you get the benefits of a whole year of investing. The best way to accelerate your RRSP is to contribute automatically – weekly, bi-weekly, semi-monthly or monthly – from your payroll, savings or chequing account. You will hardly notice the difference in your account balance and by the end of the year, you will have made a substantial RRSP contribution. By contributing regularly, you will be compounding the interest monthly instead of just focusing on the tax advantages of a one-time contribution at the end of the year.

*Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Commissions, trailing commissions, management fees, and expenses may all be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual funds, other 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 and other securities are not guaranteed, their values change frequently and past performance may not be repeated.

At Kingston Community Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through FSRA.

Learn more about deposit insurance here

A third party is an individual or entity, other than the account holder or those authorized to give instructions about the account, who directs what happens with the account. For example, if an account were opened in one individual’s name for deposits that are directed by someone else, the other person or entity would be a third party.

  • A secondary piece of identification from the primary list above
  • Canadian Birth Certificate
  • Credit Card bearing the name and signature of the individual which has issued by a well-known and reputable Canadian financial institution
  • A CNIB (Canadian Institute for the Blind) client card bearing the individual’s photo and signature
  • Provincial Outdoors Card
  • Canadian University or College Student Card with photo (for student identification only)
  • An employee identification card (with photo) issued by an employer that is well known in the community (i.e. KGH, DND, Queens University, Corrections Canada, etc.)
  • Foreign passport
  • Canadian Passport
  • Permanent resident card
  • Citizenship card (issued prior to 2012)
  • Secure Certificate of Indian Status issued by the Government of Canada
  • Driver’s licenses issued by province or territory
  • The DND (Department of National Defense) 404 driver’s license
  • Nexus Card issued by Canada Border Services Agency
  • Provincial Service Cards
  • Provincial or territorial identity cards (i.e. Ontario Photo Identification Card)
  • Foreign Passport (only if it is equivalent to a Canadian issued photo identification document)