RRSPs

In today's uncertain economic times, it is sometimes difficult to know how to save for your retirement. The right options depend on your personal circumstances:

  • What is your age? When do you want to retire?
  • What kind of lifestyle do you have now, and what do you want for your retirement years?
  • How much can you save?
  • What is your tolerance for risk?

A Registered Retirement Savings Plan, or RRSP, is a tax-sheltered investment approved under the Income Tax Act, which assists you in saving money now for your retirement years later. Your contributions, within specified limits, are tax deductible, thereby reducing your current taxes. As well, income earned within your RRSP is tax sheltered until withdrawn, allowing you to compound savings tax free while growing much more quickly than they would outside an RRSP.

Deposits are 100% guaranteed by the Deposit Guarantee Corporation of Manitoba.

RRSP Options:

Automatic Deposit Plan Expand/Collapse

Because you are important to us all year long, Stride Credit Union has the RRSP Automatic Deposit Plan for you:

  • Deposits you make now and throughout the year will earn completely tax-sheltered interest from the date they are made.
  • We will do all of the work by automatically transferring funds from any one of your Stride Credit Union deposit accounts and depositing them to your RRSP at no charge. 
Help maximize your yearly RRSP deposits by contributing monthly. Monthly Deposits with automatic transfers from your Stride Credit Union account are an easy way of contributing directly to your retirement income.

Fixed-Rate RRSP Expand/Collapse

A Fixed-Rate RRSP will provide the security of knowing your rate of return on your RRSP is guaranteed for the length of time that you choose, ranging anywhere from 12 to 60 months. A $500.00 minimum deposit is required to start this type of plan.

Variable Savings Account Expand/Collapse

Our Variable Savings Account gives you the flexibility of instant liquidity or instant lock-in options. You can easily transfer into this account online with MemberDirect. All withdrawals are considered taxable income and are subject to federal withholding tax requirements.

Your RRSP is an excellent investment. The fact that your RRSP is a savings plan while acting as a tax shelter makes it one of the most advantageous investments you can make. It's important to remember to contribute early, contribute annually, and contribute the maximum allowable so that you can enjoy the quality of retirement lifestyle and deserve!