Connect with GP Wealth Management and have an experienced financial advisor work with you directly to provide quality personal service. Managing your RRSP account with our menu of services is intuitive and easy. And when you open or transfer an RRSP account to GP Wealth Management, we’ll reimburse you up to $125 in transfer fees for every RRSP account you transfer.
It’s a premium asset management service that’s commission- free and gives you access to all the services, advice and investment options you need to meet your financial goals.
Choose from an extensive lineup of mutual funds from more than 35 fund management companies. Our fund selection encompasses a full range of savings, income and growth funds.
Building a diversified portfolio and constantly monitoring and adjusting it takes time and expertise. For this reason, many investors prefer our “All-In-One Fund Solution,” which offers an easy and effective way to handle the money management and asset mix.
We offer RRSP Guaranteed Investment Certificates (GICs) in terms ranging from one to five years. GICs provide guaranteed principal and interest, so they make an ideal addition to a diversified portfolio.
Our platform provides all the available products under one plan, with maximum flexibility to manage your investments.
Open an RRSP account or transfer your existing RRSP account to GP Wealth Management. We encourage you to get professional advice when managing your RRSP account.
In this FAQ, we answer the most common questions asked about RRSP accounts. If you have any specific questions, send us an email and we would be pleased to help.
Each year, the government allows you to contribute a specified amount to an RRSP. This is known as your RRSP contribution limit. It’s calculated as 18% percent of the amount of income you’ve earned from the previous year’s employment, less the value of your previous year’s Pension Adjustment. Your Pension Adjustment is a function of the contribution made to your company pension plan, either by yourself or your employer.
The 2017 RRSP contribution limit is 18% of your previous year’s earned income to a maximum of $26,010, less the previous year’s pension adjustment (PA) plus the current year’s pension adjustment reversal (PAR).
Year | Yearly Maximum RRSP Contribution |
2015 | $24,930 |
2016 | $25,370 |
2017 | $26,010 |
2018 | $26,500 |
The easy way to find your limit is to check the Notice of Assessment that Canada Revenue Agency sent back to you after you filed your taxes last year.
A spousal or common-law partner RRSP lets you contribute to an RRSP in the name of your spouse or common-law partner and claim that contribution as a deduction against your own taxable income. As long as the total contributions you make to your own and your spousal RRSPs don’t exceed your personal RRSP contribution limit, you may contribute as much as you like to a spousal RRSP. This contribution does not affect what your spouse can contribute to his or her own RRSP.
The benefit of the spousal plan is to build up two RRSP portfolios of equal value at retirement. This way, at retirement you’ll likely pay less tax by regularly withdrawing two smaller incomes from the two plans, instead of one large income from one plan.
Spousal RRSPs are an especially important financial tool when one spouse is not working, has no pension plan or has a significantly smaller income.
Note: If your spouse makes a withdrawal from a spousal RRSP before two complete calendar years have passed since the last contribution was made, you, as the contributor, will be required to include the withdrawn amount, to the extent of the contribution, as your taxable income.
A self-directed RRSP allows you to make your own investment choices, ideally with the help of your financial advisor. In a self-directed RRSP, you may invest in a variety of different types of investments as long as they are approved by Canada Revenue Agency.
Qualified investments is the term used for investments that can be held in an RRSP or RRIF. These investments generally include:
Non-qualified investments include:
GP Wealth carries mutual funds from over 30 fund management families. Funds may be discontinued or change names without notice. Some funds have minimum initial deposit requirements, a minimum duration, or have limited subscription.
MUTUAL FUNDS | GUARANTEED INVESTMENT CERTIFICATES (GICs) |
ANNUITIES | BONDS AND DEBENTURES* |
SEGREGATED FUNDS | STOCKS* |
B2B BANK | BMO BANK |
BRIDGEWATER BANK | CANADIAN WESTERN BANK |
CANADIAN WESTERN TRUST | COMMUNITY TRUST |
CONCENTRA FINANCIAL | DUCA |
EFFORT TRUST | EQUITBLE BANK |
GENERAL BANK OF CANADA | HAVENTREE BANK |
HOME BANK | HOME TRUST COMPANY |
ITALIAN CANADIAN SAVINGS & CU | LAURENTIAN BANK |
MANULIFE BANK/TRUST | MCAN MORTGAGE CORPORATION |
PACIFIC & WESTERN BANK | PEACE HILLS TRUST |
PEOPLE'S TRUST | VERSA BANK |
Invesco Segregated Funds | Great West Life Assurance Co. |
CI Segregated Funds | Mackenzie Segregated Funds |
Canada Life | Standard Life |
Empire Life | TD Guaranteed Funds |
*Bonds and Equities are made available through an exclusive referral agreement with B2B Securities and Q-Trade Investors. Please speak to your financial advisor for further details on this service.
Whether you’re currently retired or years away, reviewing your financial plan regularly makes sense. With the ever-changing tax laws and investment options, planning for retirement requires continuous monitoring and updating to ensure you’re on top of things.
As an independent wealth management company with strong alliances among Canada’s top financial companies, GP Wealth has enormous flexibility in designing financial plans and recommending appropriate products for its clients. We pride ourselves in providing objective advice. You get a comprehensive financial plan that is tailored to your needs.
Planning for retirement requires a long-term commitment that should not be delayed. One of the most important aspects of the financial planning process is preparing for a secure retirement. The decisions you make today will have a huge impact on your lifestyle in retirement.
We can help you determine how much you will get from your company pension and the government when you retire, and how to make up the difference with your own customized investment plan.
Canadians with financial advisors are more confident about their future.
We’ve developed a plain-language document that describes the relationship between you and your GP Wealth Financial Advisor or Planner.