Registered retirement savings plan (RRSP)

Registered retirement savings plan (RRSP)

Grow money tax-free for your retirement and long-term goals

Contribute online  -  - to an RRSP. This link will open in a new window.

What's an RRSP?

An RRSP or registered retirement savings plan is a type of savings account that lets you defer taxes when you save towards retirement. You can deduct RRSP contributions to decrease your taxable income, which means more cash in your pockets for the future.

Reasons to open an RRSP

  • Plan for retirement
  • Buy your first home
  • Finance a return to school

Advantages

Less taxable income

The money you save in an RRSP is deductible, which means you can decrease your taxable income and, if applicable, potentially maximize certain government benefits.

Tax-sheltered earnings

Your investment income is not taxed until you make withdrawals.

Cumulative contributions

If you don't reach your limit, your unused contribution room is carried forward to the next year.

Spousal RRSP contributions

When you contribute to your spouse's RRSP, you benefit from the tax deduction (even if you aren't the beneficiary).

When is the RRSP contribution deadline?

The deadline to contribute to your RRSP for the 2020 tax year is March 1, 2021. If you make contributions after this date, you can claim the deductions on your 2021 tax return.

What is the RRSP contribution limit?

The contribution limit or maximum amount you can contribute to your RRSP is $27,230 for the 2020 tax year and $27,830 for 2021. Your annual contribution should not exceed 18% of the previous year's earned income.

Contributions to an employer-sponsored plan can reduce your annual contribution room.

How to open an RRSP

Open an account

Log in to AccèsD to open an RRSP and start contributing. It's quick and easy!

Contribute online -  online. This link will open in a new window.

Or call us

Montreal area:
514-CAISSES  This link will launch your default phone software.

Elsewhere in Canada:
1-800-CAISSES  This link will launch your default phone software.

Choose your investments

Add investments to your RRSP that are suited to your goals, risk tolerance, investment profile and target retirement age. Your advisor can help you make informed decisions.

Set up automatic transfers

Automatic transfers let you schedule how often you contribute and how much. A great way to save all year long.

Learn more  about automatic transfers

4 types of RRSP-eligible investments

  •  :High Interest Savings Account">

    A good account to get started with saving. Watch your money grow with no minimums and no fees.

    Learn more about High Interest Savings Account
  • Guaranteed fixed-rate investments (term savings)

    With term savings, your capital and interest are guaranteed. No matter how the markets perform, your returns are known from day one.

    Learn more about Guaranteed fixed-rate investments
  • Market-linked guaranteed investments

    With market-linked guaranteed investments, you protect your capital and enjoy good returns. Your capital is guaranteed, but the return depends on how markets perform.

    Learn more about Market-linked guaranteed investments
  • Desjardins Funds

    Mutual funds are one way to work towards your medium- and long-term goals. Your money is invested according to your profile and you benefit from professional management to help you maximize returns.

    Learn more about Desjardins Funds

Need help?

Speak to an advisor to pick the investments that are right for your profile and goals.

Avoid waiting on hold. Have us call you when it's convenient.

How to put your RRSP to work

Plan your retirement

Personal savings may well be your biggest source of retirement income. Aim to save 10% of your net annual income and invest it to grow your retirement nest egg.

Learn more   about planning retirement

Buy your first home

When you buy your first home, the Home Buyers' Plan allows you to withdraw up to $35,000 from your RRSP tax-free.

Learn more   about the Home Buyers' Plan

Go back to school

You can withdraw up to $20,000 from your RRSP to fund a return to school with the Lifelong Learning Plan (LLP).

Learn more  about the Lifelong Learning Plan

Start saving now

Go to AccèsD to make a quick contribution and set up automatic transfers.

Contribute online - to an RRSP. This link will open in a new window.

FAQ – Registered retirement savings plan (RRSP)

See all questions about RRSPs

® BONUSDOLLARS is a registered trademark of Fédération des caisses Desjardins du Québec.

  1. Desjardins Funds are not guaranteed, their value fluctuates frequently, and their past performance is not indicative of their future returns. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Desjardins Funds are offered by registered dealers.