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Registered Retirement Savings Plan (RRSP)



RRSP options at BMO

We have a range of RRSP options that can help you build a better retirement. Let’s find the one that works best for you. Here’s a few we think you might like:
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Grow and maintain your wealth with this easy-to-use solution that combines our best investment ideas, plus professional management for that focus on delivering more consistent returns.

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GICs protect your initial investment, so you’ll get that money back at the end of the set term. Plus, you can count on a guaranteed rate of return, depending on the GIC you pick.
Pro tip: Market-linked GICs can offer higher return potential than traditional GICs.

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We have a bunch of different professionally managed mutual funds that can be a great fit in your RRSP. Design the portfolio that works for your goals and how much risk you’re comfortable with.

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If you’re the hands-on type, a self-directed RRSP may be right for you. It gives you more flexibility and control over a diverse range of investments all managed through one RRSP.

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  • BMO SelectTrust® Portfolios
    Grow and maintain your wealth with this easy-to-use solution that combines our best investment ideas, plus professional management for that focus on delivering more consistent returns.

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  • BMO Guaranteed Investment Certificates (GICs)
    GICs protect your initial investment, so you’ll get that money back at the end of the set term. Plus, you can count on a guaranteed rate of return, depending on the GIC you pick.
    Pro tip: Market-linked GICs can offer higher return potential than traditional GICs.

    Tell me more
  • BMO Mutual Funds
    We have a bunch of different professionally managed mutual funds that can be a great fit in your RRSP. Design the portfolio that works for your goals and how much risk you’re comfortable with.

    Tell me more
  • Self-Directed RRSP
    If you’re the hands-on type, a self-directed RRSP may be right for you. It gives you more flexibility and control over a diverse range of investments all managed through one RRSP.

    Tell me more

RRSP Loans at BMO

Need a little extra cash to contribute to your RRSP? These loans options can help get your savings to a better place.
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Access what you need, when you need it. Apply once and use up to your credit limit to top up your RRSP. A great way to make sure you’re always contributing the maximum.
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Catch up on any unused contribution room in your RRSP. Plus, you’ll have flexible payment options, a competitive interest rate and lots of time to pay down the amount.
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  • RRSP ReadiLineTM Account
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    Access what you need, when you need it. Apply once and use up to your credit limit to top up your RRSP. A great way to make sure you’re always contributing the maximum.
    Check it out
  • Retro-Activator® RRSP Loan
    Catch up on any unused contribution room in your RRSP. Plus, you’ll have flexible payment options, a competitive interest rate and lots of time to pay down the amount.
    Check it out

Group Retirement Savings Plan

  • A Group Retirement Savings Plan (GRSP) is like an RRSP but it’s handled by an employer for their employees. GRSPs have the same contribution limits and tax benefits as regular RRSPs.
  • The big difference is your savings are pooled with the savings of your co-workers on the plan, making GRSPs a more cost effective way to save than going it alone.
  • Your employer can also contribute to your account (hello, free money). Many companies offer to match your contributions up to 3 to 5 percent of your salary. And your employer’s contributions are tax deductible for them, so everybody’s happy.
  • Contributions to your GRSP can be deducted automatically from your paycheque, so you don’t even have to be thinking about it. And if you leave that job, you can cash out your account or take your GRSP with you to your next gig.

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Top questions about RRSPs

Want to learn more about RRSPs?

What are contribution limits on RRSPs?

The 2018 limit is 18 percent of your income from the year before or $26,230 (whichever is smaller). If you don’t hit the maximum contribution this year, you can roll over the remaining amount into the next year.

What happens when I withdraw from my RRSP?

You’ll have to pay tax on the money you withdraw from your RRSP. The exception is if you’re using the funds to buy your first house or go back to school. But you’ll still need to put that money back in your RRSP eventually.

Helpful Tools & Resources

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Test your RRSP knowledge

How savvy are you when it comes to RRSPs? Take this short quiz and find out!
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Open an RRSP today

Already bank with BMO?
Sign in to open an RRSP or contribute to one you already have.
Don’t have an account?
Let’s change that! Here are three ways to sign up:
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