Before investing, the first step is to choose a plan. Plans are made up of segregated funds or guaranteed interest accounts (GIAs). They must be selected in accordance with your investor's profile and the source of your savings.

Are you saving up for retirement or for another project? Do you want your investments to be sheltered from taxes or do you want to start receiving retirement income payments right now?

To Save

Registered Retirement Savings Plan (RRSP)

To Save for Retirement and Take Advantage of Tax Benefits

The registered retirement savings plan (RRSP) is an individual savings plan for your retirement.

RRSP Advantages

  • Contributions to your RRSP help you reduce your taxable income when you file your annual income tax return.
  • The investments in your RRSP generate returns that are tax free.

How the RRSP Works

  • All withdrawals from an RRSP are regarded as income and as such are taxable, whether before or after retirement.
  • The maximum annual contribution amount is based on your income. This amount is indicated on your notice of assessment issued by Canada Revenue Agency.
  • The amounts accumulated in your RRSP must be converted to a RRIF the year in which you turn age 71.

Learn More

TFSA or RRSP? (PDF, 77 kB)


Tax-Free Savings Account (TFSA)

To Round out your Savings Portfolio

The tax-free savings account (TFSA) is a registered plan that allows you to save for retirement or any other project.

TFSA Advantages

  • The investments in your TFSA generate returns that are tax free.
  • Withdrawals are non-taxable, whether before or after retirement.

How the TFSA Works

  • Investments in the TFSA cannot be deducted in your annual income tax return.
  • Since 2019, the maximum contribution to a TFSA is $6,000 per person.
  • The unused contribution room may be carried forward to subsequent years.

Learn More

Locked-in RRSP

To Invest Locked-in Amounts 

Locked-in RRSPs are used for transferring accumulated amounts out of a group pension plan, as when, for example, you leave an employer who offered a pension fund.

Non-Registered Savings Plan (NRSP)

To Set Aside Additional Savings

The non-registered savings plan (NRSP) lets you invest additional savings for retirement or for another project when the maximum contributions have been reached in your RRSP, TFSA, individual pension plan (IPP) or pension plan.

Individual Pension Plan (IPP)

To Maximize the Retirement Capital of Business Owners

Individual pension plan (IPP) allows for higher contributions than the traditional RRSP for business owners.

IPP Advantages

  • Company contributions are tax deductible
  • Returns are tax sheltered
  • Pension may be enhanced at retirement

Learn More

Individual pension plan (IPP) - A quick, easy way to maximize your retirement savings (PDF, 372 kB)


To Receive an Income

Registered Retirement Income Fund (RRIF)

Maintain Investment Flexibility at Retirement

A registered retirement income fund (RRIF) is the easiest way to use the savings accumulated in an RRSP to obtain a retirement income.

RRIF Advantages

  • The amounts are invested in your choice of segregated funds or GIAs so they can continue to generate returns.
  • The investments in your RRIF generate returns that are tax free.

How the RRIF Works

  • Different withdrawal options are offered to satisfy your income needs at retirement: minimum income, level income, fixed income.
  • All withdrawals are taxable as income.

Learn More

Registered retirement income fund (RRIF) (PDF, 217 kB)


Locked-in RRIF

To Obtain an Income from Locked-in Amounts

A locked-in registered retirement income fund (RRIF) converts the savings accumulated in your employer's pension plan or in your locked-in RRSP in order to obtain an income at retirement.

Contact your financial security advisor or call us to discuss:

  • Withdrawal options to satisfy your income needs at retirement: minimum, maximum and fixed income
  • Locked-in plans for each Canadian province

Learn More

Registered retirement income fund (RRIF) (PDF, 217 kB)



To Plan a More Secure Retirement

An annuity is a contract where you give a sum of money to an insurance company and, in turn, it agrees to pay you a regular income.

SSQ Insurance offers 3 annuities:

  • Life annuity
  • Term certain annuity
  • Fixed capital annuity

Life Annuity

The life annuity guarantees an income for life. The amount of the life annuity will depend on various factors and the options that you selected when you signed the contract.

Term Certain Annuity

The term certain annuity is payable for a determined period of time. The amount of the annuity depends on the duration selected. Annuity payments to you or your beneficiary are guaranteed for this duration.

Fixed Capital Annuity

The fixed capital annuity is a contract where the annuity payments correspond to the interest generated by the capital.

This annuity is payable for a determined period of time.

At the end of the annuity, the capital is renewed or reimbursed depending on what you've requested.

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