Plan options — RRSP, NRSP, TFSA, RESP & RRIF

Your personal retirement needs and dreams are as unique as a tree’s growth rings. Only you can know your current financial situation and obligations. And only you can make your dreams a reality. It all depends on the choices you make and the actions you take (or don’t take, for that matter).

That’s where CEIRP comes in

There are different types of plans – and for good reason. Together, they give you a variety of tax-advantaged opportunities to help you build your savings into a retirement nest-egg. Here are your options; click each one to learn how they work and to gain some tax tips:

And at retirement:


There are a variety of investment options you can choose – for any of the RRSP, NRSP, TFSA, RESP or RRIF – depending on your investing approach. Everything from no-touch (with Cadence target date funds), to low-touch, to build your own portfolio. And the management fees are really low compared to the retail market.

You choose your investments through your account with Canada Life at Go to Get started! For more info.


  • Before making plan contributions or withdrawals, we highly recommend that you consider the tax implications of the decisions you make – short-term and long-term.
  • In particular, RRSP withdrawals can really hurt you down the road. Once you use your RRSP room, it’s gone for good – unless it’s used for the government-approved Home Buyers’ and Lifelong Learning plans. If you are looking to park money for reasons other than retirement, the TFSA or NRSP may be better options to consider.
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