Mutual Funds

A mutual fund is a professionally managed type of collective investment that pools money from many investors and invests it in stocks, bonds, short-term money market instruments, and/or other securities.  The mutual fund will have a fund manager that trades the pooled money on a regular basis

Segregated Funds

A Segregated Fund, Seg Fund, is a type of investment fund administered by insurance companies in the form of individual, variable life insurance contracts offering certain guarantees to the policyholder such as reimbursement of capital upon death.

GICs

A Guaranteed Investment Certificate or GIC is an investment that offers a guaranteed rate of return over a fixed period of time, most commonly issued by trust companies or banks.

Pension Plans

Helping you plan for the future.

RRSPs, RRIFs and RESPs

A Registered Retirement Savings Plan or RRSP is an account that provides tax benefits for saving for retirement. RRSP refers to a provision in the Income Tax Act that allows a person to shelter financial property from income taxes.

A Registered Retirement Income Fund or RRIF is a tax-deferred retirement plan. Individuals use an RRIF to generate income from the savings accumulated under their Registered Retirement Savings Plan.

A Registered Education Savings Plan, or RESP, is a savings account used by parents to save for their children’s post-secondary education.

LIFs and LIRAs

The LIF is a restricted registered retirement income fund that is used to hold and payout pension funds upon retirement. The LIF provides an alternative to the traditional life annuity purchased from an insurance company and the opportunity to maintain control over pension capital, its investment, and the flow of income.

A LIRA is a RRSP containing funds which originate from a pension plan of an eligible jurisdiction. It is regulated by the Income Tax Act and governed by federal or provincial pension benefits legislation.

Group RRSPs and DPSPs

A deferred profit sharing plan – or DPSP – isn’t a way for you or a company to defer profits. Instead, it is a plan, registered with Canada Revenue Agency that a company contributes to on behalf of its employees. These plans are often used by companies to provide retirement income for their employees, either on their own or combined with a pension plan or RRSP.

Annuities

An annuity is an insurance product that pays out income, and can be used as part of a retirement strategy. Annuities are a popular choice for investors who want to receive a steady income stream in retirement.