 |
|
 |
|
|||||||||||||||||||||||||||||||||||
| Investment Products | |||||||||
|
Registered Retirement Savings Plans (RRSP) - A formal investment plan which allows an individual to accumulate savings and earnings for retirement on a tax-sheltered basis.
Spousal Registered Retirement Savings Plans (SRSP) - An RRSP to which one spouse
(most often the spouse with the higher earnings) makes contributions on behalf of their spouse
(usually the one with the lower earnings) and receives a tax deduction for the contribution.
Registered Education Savings Plans (RESP) - A plan that enables a contributor to
accumulate assets on behalf of a beneficiary (on a tax deferral basis) to pay for a post
secondary education.
Registered Retirement Income Funds (RRIF) - One of the best options for your RRSP at
maturity, which allows you to take a regular (taxable) income, while still deferring taxes on the
remainder of the account.
Spousal RRIF (SRIF) - A RRIF set up from the proceeds of a spousal RRSP. Life Income Funds (LIF) - Similar to a RIF, but for your locked in RRSP (from a pension plan).
Guaranteed Investment Certificates (GIC) - A deposit instrument paying a predetermined
rate of interest for a specified term, available from banks, trust companies and other financial institutions.
Mutual Funds - An investment entity that pools shareholder or unitholder funds and invests in
various securities. The units or shares are redeemable by the fund on demand by the investor.
The value of the underlying assets of the fund influences the current price of units.
Segregated Funds - A pooled investment fund, much like a mutual fund, that is established
by an insurance company and segregated from the general capital of the company, basic
guarantees are associated.
Labour Sponsored Funds - A special type of mutual fund that offers Canadian investors
additional tax savings through Provincial and Federal Tax Cedits.
Annuities - An investment option where you receive a steady monthly income (generally for life)
in exchange for a lump sum from your RRSP, RIF or LIF.
|
|||||||||
|
|||||||||