RRSP Investments, RRSPs Canada | HSBC Canada

HSBC RRSPs

Save for your retirement and defer taxes with an RRSP from HSBC



An RRSP is an investment in your future – with advantages today

A Registered Retirement Savings Plan (RRSP) is a government-approved, tax-sheltered account you can use to build your retirement savings. It can hold a variety of assets, including mutual funds, GICs, bonds, stocks and cash.

Any money you put into your RRSP reduces your taxable income. You usually don’t have to pay tax on your RRSP contribution or any gains you earn until you withdraw funds – typically when you are retired and are in a lower tax bracket.

Benefits of an RRSP include:

  • Pay less income tax – Your contribution is deducted directly from your current income, giving you immediate tax savings
  • Build your wealth faster – When you contribute regularly throughout the year, you take advantage of the power of compound interest. And since income earned within your RRSP is not taxed, your investment grows even more quickly
  • Defer your taxes to a lower rate – When you start to withdraw money from your RRSP investment, usually when you are retired, your income will likely be lower and you’ll pay tax at a lower rate
  • Contribute before the deadline – Don’t wait until the deadline. Contribute as early as possible and take advantage of having extra time for your investment to grow, tax-free
  • Maximize your RRSP contributions – Try to invest the maximum shown on your previous year’s Notice of Assessment. You’ll get the maximum tax deduction now and have a bigger nest egg at retirement
  • Contribute regularly – You can make a lump-sum contribution before the deadine, but it makes more sense to establish a regular investment plan. Your investment will grow faster and you won’t have to worry about meeting RRSP deadlines
  • Set up a spousal RRSP – If you earn more than your spouse, you can contribute to his or her RRSP without paying tax on your contribution. When you retire, your spouse can withdraw funds – splitting the income more equally between you and potentially helping you pay less income tax as a couple
    • Borrow from your RRSP to buy a home - The Home Buyer’s Plan (HBP) is a program that allows eligible RRSP holders to withdraw up to $25,000 from their RRSP in a calendar year to buy or build a qualifying home
    • Borrow from your RRSP to pay for education - Register for the Lifelong Learning Plan (LLP) and be eligible to withdraw up to $10,000 from your RRSP in a calendar year to finance full-time training or education for you or your spouse or common-law partner
  • Avoid taking money out of your RRSP until retirement – You can withdraw money from your RRSP at any time, but apart from the Home Buyer’s Plan and Lifelong Learning Plan, any withdrawals will be considered taxable income and withholding tax will be charged. For more information, visit the Canada Revenue Agency

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® World Selection is a registered trade-mark of HSBC Bank Canada.

1 HSBC Investment Funds (Canada) Inc. (“HIFC”) is a direct subsidiary of HSBC Global Asset Management (Canada) Limited (“AMCA”) and an indirect subsidiary of HSBC Bank Canada, and provides its services in all provinces of Canada except Prince Edward Island. AMCA is a wholly owned subsidiary of, but separate entity from, HSBC Bank Canada and provides its services in all provinces of Canada except Prince Edward Island.

2 AMCA is the manager and primary investment advisor for the HSBC Mutual Funds. HIFC is the principal distributor of the HSBC Mutual Funds. HSBC Mutual Funds are also distributed through authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Fund Facts before investing. Mutual funds are not guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other deposit insurer. Their values change frequently and past performance may not be repeated. The unit value of money market funds may not remain constant.

3 HSBC World Selection® Portfolio is a portfolio investment service offered by HIFC. In this service, a client’s assets are invested in model portfolios. Each model portfolio is comprised of investments in HSBC Pooled Funds, which are mutual funds managed by AMCA and distributed by HIFC. AMCA provides discretionary investment management services to the portfolios in the HSBC World Selection Portfolio service. Commissions, trailing commissions, management fees, investment management fees and expenses all may be associated with investments in the HSBC Pooled Funds and/or the HSBC World Selection Portfolio service. Please read the applicable account opening documentation and Fund Facts before applying for the HSBC World Selection Portfolio service. The HSBC World Selection Portfolio service and the HSBC Pooled Funds are not guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other deposit insurer. The value of mutual funds may change frequently and past performance may not be repeated. The unit value of money market funds may not remain constant.
HSBC InvestDirect is a division of HSBC Securities (Canada) Inc., a wholly owned subsidiary of, but separate entity from, HSBC Bank Canada. HSBC Securities (Canada) Inc. is a member of the Canadian Investor Protection Fund. HSBC InvestDirect does not provide investment advice or recommendations regarding any investment decisions or securities transactions.

4 The Private Investment Management service is a discretionary portfolio management service offered by HSBC Private Wealth Services (Canada) Inc. Under this discretionary service, assets of participating clients will be invested by HSBC Private Wealth Services (Canada) Inc. or its delegated portfolio manager in securities, including but not limited to, stocks, bonds, pooled funds, mutual funds and derivatives. Commissions, trailing commissions, management fees and expenses all may be associated with the use of the Private Investment Management service. Neither the Private Investment Management service nor any of the securities purchased as part of the Private Investment Management service are guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other deposit insurer. The value of an investment in or purchased as part of the Private Investment Management service may change frequently and past performance may not be repeated.
HSBC Private Wealth Services (Canada) Inc. is a wholly owned subsidiary of, but separate entity from, HSBC Bank Canada and provides services in all provinces of Canada except Prince Edward Island.

HSBC RRSP Ascending Rate GIC™ is a registered trade-mark of HSBC Holdings plc. Used pursuant to license.