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.
Look forward to a secure retirement.
Benefits and features
- Pay less income taxYour contribution is deducted directly from your current income, giving you immediate tax savings.
- Build your wealth fasterWhen 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 rateWhen 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 deadlineDon’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 contributionsTry 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 regularlyYou can make a lump-sum contribution before the deadline, 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 RRSPIf 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 homeThe 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 educationRegister 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 retirementYou 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.
Save for your future with HSBC’s global investment expertise
- HSBC Wealth Compass™ Funds
Professionally managed, cost-effective mutual funds available online based on your investor profile
- HSBC Mutual Funds1
Including one of the broadest ranges of emerging markets funds in Canada
- HSBC World Selection® Diversified Funds1
A range of well-diversified mutual fund portfolios you can choose based on your risk tolerance
- HSBC World Selection® Portfolio2
Benefit from broader diversification across asset classes and world markets, as well as the expertise of some of the world's top portfolio managers, in this managed portfolio service. Exclusive to HSBC.
- Self-directed RRSP
Select and manage your own RRSP investments with HSBC InvestDirect.3 Access a wide variety of stocks, bonds, mutual funds, GICs, ETFs and other securities from major international markets, and pay low commissions.
- Private Investment Management4
Access a discretionary management service that gives your investment portfolio specialized attention from HSBC's worldwide network of research analysts and money managers.
RRSP-eligible Savings Products
No matter what you want your retirement needs are, HSBC offers a spectrum of competitive RRSP options to help you meet your goals:
- RRSP Variable Savings option
Invest any amount you choose and enjoy the flexibility of being able to transfer your funds to a wide range of other HSBC RRSP options any time.
- RRSP Fixed Rate
Receive the peace of mind of a guaranteed rate of return over the term length of your choice. Your principal is safe, plus you’ll earn compound interest to further increase your return.
- HSBC RRSP Ascending Rate GIC™
Enjoy a higher rate of return each year during the 5-year term of this guaranteed RRSP investment.
How to apply
RRSP EligibilityExpanded press enter to Collapse Collapsed press enter to Expand
Open a new RRSP
Open a new HSBC RRSP Mutual Funds account online through HSBC Wealth Compass™
Or to open a new HSBC RRSP Savings or Fixed Term Deposit account
Or call toll-free 1-888-310-4722
Already have an HSBC RRSP account?
Make a contribution to your existing HSBC RRSP Savings or Fixed Term Deposit account
Make a contribution through HSBC Wealth Compass™
Apply for an HSBC RRSP Loan
An RRSP Loan is a great way to maximize your RRSP if you haven't reached your contribution limit.
1 HSBC Global Asset Management (Canada) Limited (“AMCA”) is the manager and primary investment advisor for the HSBC Mutual Funds. HSBC Investment Funds (Canada) Inc. (“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 prospectus, Fund Facts, and other disclosure documents before investing. Mutual funds are not guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other deposit insurer or financial institution. Their values change frequently and past performance may not be repeated. For money market funds, there can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you.
HIFC is a direct subsidiary of 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 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 associated with HSBC World Selection Portfolio, the prospectus, Fund Facts, and other disclosure documents of the HSBC Pooled Funds in which investment may be made under HSBC World Selection Portfolio service 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 or financial institution. For money market funds, there can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. The net asset values of all mutual funds, including the HSBC Pooled Funds, may change frequently and any past performance may not be repeated.
3 HSBC InvestDirect is a division of HSBC Securities (Canada) Inc., a wholly owned subsidiary of, but separate entity from, HSBC Bank Canada. Member – 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 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.