Saving

Investing your money in the right savings options is crucial, no matter what stage of life you’re at. We’ll help you make the right choices to get the most out of your money.

Make your savings work for you

The Registered retirement savings plan (RRSP) and Tax-free savings account (TFSA) are the bedrock of most Canadians savings, investing and retirement planning. They complement each other well, but they help you achieve your goals in slightly different ways.

RRSP

Pay less tax now
Growth sheltered from taxes
Keep more of your investments
Generally for saving for retirement

TFSA

Flexible
Versatile
Access your money tax-free
Usually for short-term goals

Save for your kid’s education

A registered education savings plan (RESP) allows you to use tax-free savings and government contributions to help set your children up for success.

A high interest option for short-term saving

The Canada Life high interest savings account offers growth through a competitive interest rate along with the convenience and security of a traditional savings account.