RRSP season might seem like a long way off, but taking some time now to plan your contributions will help you avoid the year-end rush.
WHAT'S YOUR CONTRIBUTION ROOM? A great first step is to evaluate your contribution room. Visit the CRA website and sign in to your account or call the Tax Information Phone Service (TIPS) line at 1.800.267.6999 to determine your limits.
AUTOMATE CONTRIBUTIONS: There’s no question that your savings plan should include automatic transfers to your savings vehicles of choice. That includes RRSPs! With SCU, you have the option to self-manage your contributions through SCU Direct, setting up regular, pre-authorized transfers directly to your RRSP account.
REGISTERED INVESTMENT LOAN OR LINK LINE: An investment loan can help you meet your RRSP goals by providing easy access to funds whenever you are ready to invest. With interest charged only on the outstanding balance and a low borrowing cost for our members, a Registered Investment Loan or Link Line is the perfect solution to help you maximize your contribution. Setting up your Link Line now means you will be ready to purchase RRSPs well before the deadline.
Learn more about RRSPs here. When your're ready to get started, visit your nearest branch, or call us at 1.800.728.6440 to schedule an appointment.