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.

The following RSP options are available at League Savings and Mortgage:

  • Tiered Rate Plan – Minimum deposit $100
    Similar to a savings account, with interest rates that increase as your account balance increases. A good choice if you may require use of your funds soon, or are not comfortable locking-in for a fixed term.
  • Fixed Rate 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!
  • One Year Redeemable – 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.
  • Pre-Authorized Deposits – Minimum deposit $2500
    Maximize your money by depositing your RSP contribution weekly, bi-weekly or monthly. The contributions will be invested in our Tiered Rate Plan until the balance reaches $500 and can be switched to the Fixed Rate Plan upon written request.

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.