The best RRSPs in Canada for 2024 + MORE May 2nd

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The best TFSAs in Canada for 2024
We’ve rounded up the best TFSA rates on savings accounts and GICs, as well as the best TFSA investment accounts.

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Featured TFSA Accounts

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Best GIC rate

Earn a guaranteed 5.25% tax free when you lock in for 1 year.

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Best online brokerage

Open a TFSA investment account and trade ETFs and stocks with $0 commission on all transactions.

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The Best RRSPs

Aside from a TFSA, another powerful tax-advantage account is an RRSP. Check out the best RRSPs in Canada…

The minimum age at which you can convert a registered retirement savings plan (RRSP) to a registered retirement income fund (RRIF) varies by province: it’s 50 in some, and 55 in others. But starting the year after conversion, you must begin to make minimum withdrawals from your RRIF. The table below includes the minimum withdrawal rates for all RRIFs set up after 1992. It shows the percentage of the account balance (at the previous year-end) that must be paid out in the current year.

How to use the table: Slide the columns right or left using your fingers or mouse to see all the columns. You can download the data to your device in Excel, CSV and PDF formats. 

wdt_ID Age at end of previous year Withdrawal rate for current year Age at end of previous year Withdrawal rate for current year

1
55
2…

RRSPs

The best RRSPs in Canada for 2024
We’ve rounded up the best RRSP rates on savings accounts and GICs, as well as the best RRSP investment accounts.

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By Rebecca Cuneo Keenan and Keph Senett on May 1, 2024Estimated reading time: 19 minutes

Presented By Scotiabank

Why should you open a registered retirement savings plan (RRSP)? This account type is often described as “tax-advantaged,” meaning it offers a tax-efficient way for savers and investors to build wealth for the future, usually for retirement. To maximize its potential, it helps to know the differences between an RRSP and other kinds of registered accounts, like the tax-free savings account (TFSA) and first home savings account (FHSA). Plus, not all RRSPs are built the same—you’ll want to compare their interest rates and fees, for example…