Registered Savings & Investment Accounts
Choose the account that fits the goal.
Compare contribution, withdrawal and tax rules before deciding where to save. Your first home, retirement and a child’s education may call for different accounts.
Account guide
See the purpose. Open the details.
These accounts set the rules for holding your money. The investments available inside them depend on the provider and account terms.
TFSA · Flexible saving
Contributions are not deductible; eligible growth and withdrawals are generally tax-free. Withdrawn amounts normally return as contribution room in the next calendar year.
RRSP · Retirement saving
Eligible contributions may reduce taxable income. Growth is generally tax-deferred; withdrawals are usually taxable and normally do not restore contribution room.
FHSA · A qualifying first home
Eligible first-time buyers may deduct contributions and make qualifying withdrawals tax-free. Confirm opening eligibility, participation periods and withdrawal conditions.
RESP · Education
Contributions are not deductible. Eligible grants and bonds can supplement savings; education payments containing incentives and earnings are generally taxable to the student.
RDSP · Long-term disability savings
For eligible people who qualify for the Disability Tax Credit. Grants or bonds may be available; contributions are not deductible and withdrawal rules need long-term planning.
RRIF · Retirement income
Converts eligible registered savings into income. Minimum annual withdrawals apply after the year of opening, and payments are generally taxable.
Non-registered · Additional flexibility
Generally no contribution limit, but no registered-plan tax shelter. Interest, dividends and capital gains may receive different tax treatment.
Before moving money
Check the room, the transfer and the timeline.
Several accounts of the same type share your personal limit. Reconcile CRA information with recent institution records before contributing; online figures may lag behind activity.
Plan the investments inside your accountsTransfers and withdrawals are different
Taking funds out yourself may trigger tax or contribution consequences that a permitted direct institutional transfer avoids. Confirm the process and fees before moving assets.
Choose holdings around access needs
Money for a home next year has different needs from retirement savings you may not touch for decades. Account tax advantages do not remove investment risk.
Keep ownership and beneficiaries current
Review beneficiary or successor arrangements alongside your will and revisit the account mix after changes in income, residency, family or retirement plans. Legal and tax advice may be needed.
Questions before you decide
Look closely at the details.
Should I contribute to a TFSA or an RRSP first?
The answer depends on your income, current and expected future tax position, employer plans, goals, timeline and need for access. Some people may prioritize one account, while others may benefit from using both.
Can I use an FHSA and the RRSP Home Buyers’ Plan?
Eligible individuals may be able to use both programs for the same qualifying home purchase, subject to current program conditions. The strategy should be reviewed before making withdrawals.
Can Centerpointe transfer my existing accounts?
Transfer options depend on the account, institution, product and registration involved. We can help assess the situation and explain the appropriate process before any transfer is initiated.
Review with Centerpointe
Make your next contribution an informed choice.
Bring your account statements, recent contribution and withdrawal records, CRA information and savings goals. We’ll help compare the relevant options and identify what needs confirming before you contribute or transfer.
Registered Savings & Investment Accounts Areas We Serve
Registered Savings & Investment Accounts guidance in Ottawa and neighbouring Eastern Ontario communities.
The information on this page is general in nature and is not intended as investment, tax, legal or accounting advice. Registered-plan eligibility, contribution limits, government incentives, withdrawal rules and tax treatment are subject to applicable legislation and may change.
Before contributing, withdrawing or transferring funds, confirm your available contribution room and eligibility using current Canada Revenue Agency information and your personal records. Where appropriate, consult qualified tax and legal professionals.
Investment products involve risk. Values may fluctuate, and past performance does not guarantee future results. Products and services are available only through appropriately licensed or registered individuals and entities and may vary by province, jurisdiction, provider and client eligibility.