Retirement Savings Plan
How can I save for my retirement?
Invest in a League Savings and Mortgage RSP.
- Your contributions, within legislated limits, are tax deductible.
- Interest earnings within your plan are not taxable until you withdraw them.
- Compound interest means your retirement savings grow quickly.
How do I get started with a RSP?
RSP Options
Variable Rate RSP Plan
Equivalent to a savings account, with the ability to lock into a term at any time. A good choice if you may require use of your funds soon, or are not comfortable locking-in for a fixed term.
One Year Redeemable RSP
Minimum deposit $500
A one year deposit, redeemable after 30 days without penalty. Your principal and interest are guaranteed making this an ideal product to reach your short-term goals.
Fixed Rate RSP Plan
Minimum deposit $500
Similar to a GIC. You choose a fixed term of 1 to 5 years and the interest rate is guaranteed for that term. An excellent choice if your goal is maximum growth of your retirement fund!
Pre-Authorized Deposits
Minimum deposit $25
Maximize your money by depositing your RSP contribution weekly, bi-weekly or monthly. The contributions will be invested in our Variable Rate Plan until the balance reaches $500 and can be switched to the Fixed Rate Plan upon request.
Looking for more information about RSP’s?
Contact us for information on the following special RSP features:
- Spousal RSPs
- Group RSPs
- Home Buyers’ Plan
- Transferring an existing RSP from another institution
- Transferring your severance pay or pension funds to RSP
Ask for information on transferring an existing RSP from another institution. At League Savings and Mortgage our qualified staff will be pleased to discuss any aspect of your retirement savings plan and explain our RSP features and options in more detail.
