Registered Retirement Savings Plans
Benefits of an RRSP
There are many benefits of investing in an RRSP with Coastal Community. RRSP contributions are tax-deductible (lowering your taxable income) and help reduce the amount of tax you pay. When you contribute to an RRSP, there’s a good chance you will receive a tax refund. Savvy savers use this refund to jump-start their savings and RRSP contribution for the coming year. Plus, you’ll enjoy a tax-sheltered investment until it’s time to begin withdrawing your money.
Make a Difference. Make Your RRSP Local.
When you invest with Coastal Community, you and your community benefit. How? Your deposits are reinvested as loans to local businesses, mortgages for Island homeowners, and help strengthen the communities where we live.
Do Less for RRSP Success
The best part is that RRSPs don’t have to be hard. In fact, we recommend a “Do Less for RRSP Success” approach. Simply talk to one of our experts about your retirement savings plan, set up regular contributions to your Coastal Community RRSP account and then rest easy—you are on your way. You’ll worry less about whether you are saving enough and meeting deadlines. Visit your local branch or call us at 1.888.741.1010 to get started today.
A Customized Plan for You
At Coastal Community we offer a variety of RRSP plans to meet your investment needs. Your plan can be flexible, have a great return and allow for a full range of investments. An RRSP can contain:
- myCoastal Retirement Plan
- Mutual Funds*
- GICs/Term Deposits
- Group Variable Savings Account
Do you know what it will take to create a secure retirement? Use this calculator to help you create your retirement plan.
Online RRSP Contributions
Want to make a RRSP contribution online? Simply:
- Log in to your MemberDirect online banking
- Navigate to the Transfers option on the left
- Choose the account you would like to pull your RRSP contribution from and the amount
- Select your RSP Variable Savings as your ‘Transfer To’ account to complete your contribution. Your contribution receipt will be mailed to you shortly after
Take it a step further by investing your retirement funds!
Within your MemberDirect online banking:
- Select Account Services on the left
- Click on the ‘RRSP Products’ link
- Find your preferred term deposit & select the ‘Open Account’ option. Then follow the prompts to set up your investment
We're here to help!
If you have questions about your RRSP and retirement planning, we're pleased offer you a series of e-books full of useful information and tips from our experts. We’ll cover everything from how to save on taxes, to how increase your ability to save, to how to make sure you truly can afford to retire forever.
myCoastal Retirement Plan is powered by Manulife Financial. Member Rewards Program starts once your savings balance reaches $25,000.
*Mutual funds are offered through Credential Asset Management Inc., and mutual funds and other securities are offered through Credential Securities Inc. The information contained in this newsletter is provided as a general source of information and should not be considered personal tax advice, investment advice or solicitation to buy or sell any mutual funds ®Credential is a registered mark owned by Credential Financial Inc. and is used under licence.
To view Coastal Community's RRSP Terms and Conditions of the Declaration of Trust, click here.