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RRSP maximization

Everyone hopes to have a comfortable retirement, but no one wants to wants to go without today – and that includes you, right? To help you reach your goal, the Laurentian Bank invites you to develop a strategy that is both advantageous and simple: maximize your RRSP contribution by following this example*.

Here’s an example :

Contributing $3,000 more to your annual investment at with an annual return rate of 5.00% over 20 years could mean that you will have around $100,000 more to enjoy when you retire! *

Run your own simulation with our calculator.


Legal notice

Existing RRSP accounts are offered by Laurentian Bank of Canada (Laurentian Bank) or LBC Financial Services Inc. (LBCFS). Newly opened investment accounts will be offered by LBCFS. If your RRSP account is with LBCFS, please note that LBCFS is a wholly owned subsidiary of Laurentian Bank and a separate legal entity from Laurentian Bank, B2B Trustco and all other issuers or mutual fund companies whose products it distributes. Every Laurentian Bank advisor is also a licensed LBCFS mutual fund representative. LBCFS’s liability is limited to the conduct of its representatives in the performance of their duties for LBCFS.

* Certain restrictions apply. Personal financing products are offered by Laurentian Bank of Canada and are subject to credit approval.
All the data used in the example, including the tax rate and tax refund, are fictitious. The calculation is based on a fictitious marginal tax rate of 37.5%. This simulation does not take into account the interest payable on your RRSP financing. Please read the cost of borrowing declaration provided before subscription and contract provided when opening your RRSP financing. Laurentian Bank of Canada will not be held liable for any losses or damages arising from errors or omissions in the information or results provided, or from any actions or decisions made by you based on such information or results. The calculation is for illustrative purposes only and is not intended to provide specific financial, tax or other advice, and should not be relied upon in that regard.
Assuming that you are entitled to a tax refund. To find out your personal income tax refund, the deduction limit to which you are entitled and the tax strategy that is adapted to your situation, consult your accountant or tax specialist. Actual results may vary, sometimes to a large degree.​
We have assumed that the income tax refund calculated previously is applied to the loan. The amount of around $100,000 represents the additional amount accumulated in an RRSP by increasing the annual contribution by $3,000 and assumes an annual compound rate of return of 5.00%.

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