Personal Investments
Registered accounts designed to grow your money tax-efficiently — for retirement, a first home, your child's education, or general savings.
Why Use a Registered Account
Canada's registered accounts each come with a tax advantage the government builds in to encourage specific goals — retirement, homeownership, or education. Used well, they let your investments grow faster than they would in a regular taxable account, simply because less of the growth (or none of it) is lost to tax along the way.
Our Personal Investment Products
- Registered Retirement Savings Plan (RRSP) — tax-deductible contributions and tax-deferred growth, built for retirement.
- Registered Education Savings Plan (RESP) — save for a child's education with government grants added on top of your contributions.
- Tax-Free Savings Account (TFSA) — fully tax-free growth and withdrawals, flexible enough for any savings goal.
- First Home Savings Account (FHSA) — tax-deductible contributions and tax-free withdrawals for a qualifying first home purchase.
Frequently Asked Questions
What's the difference between an RRSP and a TFSA?
RRSP contributions are tax-deductible, but withdrawals are taxed as income, and you need earned income to build contribution room. TFSA contributions aren't deductible, but withdrawals are completely tax-free, and anyone 18 or older can contribute regardless of income. RRSPs generally suit retirement savings where you expect a lower tax bracket later; TFSAs are more flexible for any savings goal.
How does an FHSA work?
The First Home Savings Account combines the tax-deductible contributions of an RRSP with the tax-free withdrawals of a TFSA, but only for a qualifying first home purchase. If you don't end up buying a home, unused funds can be transferred to an RRSP or RRIF without losing the tax-deferred growth.
What is an RESP and who can use it?
A Registered Education Savings Plan lets parents, grandparents, or other contributors save for a child's post-secondary education. Contributions aren't tax-deductible, but the government adds matching grants (like the CESG) on top, and investment growth is tax-deferred until withdrawal, when it's typically taxed in the student's hands at a lower rate.
Can I hold more than one of these accounts at the same time?
Yes — most people use several together. A common approach is an RRSP and TFSA for general retirement and flexible savings, an FHSA if you're planning a first home purchase, and an RESP if you have children. Which to prioritize, and how much to put in each, depends on your income, timeline, and goals.
Do unused contribution amounts carry forward?
For RRSP, TFSA, and FHSA, unused contribution room generally carries forward to future years, though each account has its own rules and limits. RESP contribution room also carries forward, but government grant room (like the CESG) has its own annual and lifetime caps.