Non-Registered
What is a Non-Registered Savings Plan?
A Non-Registered Savings Plan is an investment vehicle that allows you to invest without being restricted by a contribution limit. This flexible option is a great solution for those who have reached their RRSP and TFSA limits but want to continue saving for a project or retirement.
The growth potential of a Non-Registered Savings Plan is generally better than that of a bank savings account and varies according to the nature of its investments. Though it is important to bear in mind that the gains and interest income generated by a Non-Registered Savings Plan are taxable.
The main benefits of a Non-Registered Savings Plan
There is no contribution limit, allowing you to extend your saving capacity once you’ve reached the limits of your RRSP and TFSA
An ideal solution for businesses, which cannot open registered plans
It can generate additional retirement income and you can continue to contribute after turning 71 years old, since, unlike an RRSP, there is no age restriction
Your funds are accessible at any time
