RRSP Account
Registered Retirement Savings Plan (RRSP)
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.
Benefits of an RRSP Account
- Up to 46% of your contribution back in a tax refund
- Tax-Sheltered Growth
- Flexible Investment Options
- Tax Savings
We Offer 5 RRSP Investment Account Choices
1) Signature Service RRSP Account
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.
2) Mutual Fund RRSP
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.
3) Managed Portfolio RRSP
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.
4) GIC RRSP
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.
5) Self-Directed RRSP
Our platform provides all the available products under one plan, with maximum flexibility to manage your investments.
Get Started Now!
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.
Related Information
-
RRSP FAQ
Frequently Asked Questions About RRSP Accounts
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.
How much can I contribute?
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).
Based on current legislation, the dollar limit will rise as follows:
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.
What is a spousal or common-law partner RRSP?
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.
What is a Self-Directed RRSP?
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.
What Investments Qualify For Your RRSP?
Qualified investments is the term used for investments that can be held in an RRSP or RRIF. These investments generally include:
- Canadian dollar savings accounts, guaranteed investment certificates, term deposits
- shares of Canadian and foreign companies listed on a prescribed stock exchange
- shares of some over-the-counter U.S. and Canadian companies
- shares of some small businesses
- certain types of bonds and money-market investments, such as treasury bills, Canada Savings Bonds, Government of Canada bonds, provincial government bonds
- Crown Corporation bonds, bonds issued by Canadian corporations listed on a prescribed stock exchange, and certain strip bonds
- certain types of mortgages, including your own
- certain covered call options, married put option, warrants and rights
- mutual funds
Non-qualified investments include:
- Gold and silver bars and other precious metals
- Real estate
- Personal property, such as art, antiques and gems
-
Investment and Retirement Products
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.
Types of Investment and Retirement Products Available
MUTUAL FUNDS GUARANTEED INVESTMENT CERTIFICATES (GICs) ANNUITIES BONDS AND DEBENTURES* SEGREGATED FUNDS STOCKS* Mutual Funds Available
GICs Available
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 Segregated Investment Funds
If you have any questions about investing in investment and retirement products, send us an email and we would be pleased to help.Invesco Segregated Funds Great West Life Assurance Co. CI Segregated Funds Mackenzie Segregated Funds Canada Life Standard Life Empire Life TD Guaranteed Funds Important information
*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.
-
Retirement Planning
Plan Your Retirement – Today and for the Future
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.
Why Prepare a Retirement Plan
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.
-
Top 10 RRSP Tips
The Value of Advice
Canadians with financial advisors are more confident about their future.
Client Relationship Document
We’ve developed a plain-language document that describes the relationship between you and your GP Wealth Financial Advisor or Planner.