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Picture your retirement

Start saving for the retirement you deserve.

What will your retirement look like? One thing we can be fairly certain of is that having more retirement savings will inherently give you more enjoyment in retirement. Saving for retirement is one of the most effortless parts of a financial plan to implement, and a Registered Retirement Savings Plan (RRSP) is one of the best ways to do so. It’s incredibly easy to start investing in an RRSP, and once you set up automatic transfers you virtually don’t have to do anything except watch your savings grow!

With Access Credit Union, you can relax knowing your RRSP investments are working for you. With great rates and expert advice, we'll help you plan for the future you deserve.

RRSP Contribution

RRSP Contribution Limits*

The RRSP contribution room for 2023 is $30,780.
The RRSP contribution room for 2024 is $31,560

RRSP Contribution Deadline

RRSP contributions made during the first 60 days of 2024 may be claimed as a deduction from income for the 2023 taxation year. The deadline for 2023 contributions is February 29, 2024.

RRSP contributions received after February 29, 2024, are not eligible for deduction for the 2023 taxation year.

Why choose an RRSP?

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Get a break on your income taxes.

Not only do your RRSP investments grow tax-free, but you also get a break on your income taxes the year you contribute the money. Any money you contribute to your RRSP within the limit is deducted from your taxable income!

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Compound your retirement savings.

Many make excuses for not starting an RRSP right away, but it should be the top priority of any financial plan. The earlier you start saving, the larger your retirement income will be thanks to the incredible power of compound interest.

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Withdraw to borrow for special life events.

While your RRSP funds generally should not be touched until retirement, you are able to withdraw funds in order to “borrow from yourself” for certain life events through the Home Buyers’ Plan (HBP) or the Lifelong Learning Plan (LLP).

Why choose Access Credit Union?

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Earn Member Rewards.

Access members are true owners of the organization and are eligible to share in the annual profits through our Member Rewards program.

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Worry-free investing.

Feel secure knowing both your principal and interest are 100% guaranteed by the Deposit Guarantee Corporation of Manitoba. 

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Outstanding service.

We ask the right questions to find the solution that will help you achieve your goals. Our dedicated team is where you need us to be.

Current Rates

Variable

Registered Plans

2.10%

1-Year Fixed

GIC/Registered Plans

3.90%

5-Year Fixed

GIC/Registered Plans

3.60%

*Rates subject to change without notice.

Are you ready to save for your financial goals?

Join Access Credit Union 

Apply online in minutes to become a member of Access and start saving.

Become a Member

Get personalized advice

Book a no-obligation consultation to get financial advice tailored to your needs.

Book an Appointment

Already an Access member?

Learn valuable self-guided tips to get the most from your banking experience.

Learn RRSP Tips

Looking for RRSP advice?

The more wisely you invest—and the earlier you start saving—the more freedom you can have in your retirement. If you need a little help getting started, here are some quick and easy ways to get going.

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*Though contribution limits are based on the maximum annual RRSP contribution room set by the government, there are other factors. Each individual has their own annual maximum contribution limit calculated as:

  • 18% of your earned income from the previous tax year OR the annual maximum set out by the government – whichever is less.
  • This amount is adjusted for pension plan members and any unused contribution room carried forward from previous tax years

It is the individual’s responsibility to ensure no over-contributions to RRSP plans. Individual contribution limits can be found either on a Notice of Assessment (when CRA processes your tax return), or through CRA My Account online. Over-contributions are subject to a penalty tax of 1% per month for as long as it remains in your account.