The IAG Savings and Retirement Plan offers flexibility, growth, security and diversity. Its numerous advantages include:

• The possibility of registering the contract as an RRSP, LIRA, locked-in RRSP, FHSA, RRIF or LIF
• The possibility of taking advantage of the Tax-Free Savings Account (TFSA)
• The opportunity to take advantage of the Tax-Free First Home Savings Account (FHSA);
• Upon retirement, the ability to easily transfer amounts accumulated to income vehicles such as an annuity, RRIF or LIF
• The possibility of investing in a wide range of investment funds to maximize the return on savings
• Creditor protection status for both non-registered and registered contracts (subject to legal requirements)
• The possibility of borrowing to increase RRSP contributions through our RRSP loan
• The possibility of using an investment loan to amplify investment earnings (non-registered contracts only)
• Among the most competitive guarantees in the investment fund market

Read about all savings plans available and see which one best suits your client.

The RRSP is a plan that helps your clients save for retirement. Anyone under 71 years old with employment income is eligible.

An RRSP offers multiple tax advantages: not only can your clients invest money tax-free, they can also deduct all contributions from their taxable income to become eligible for a tax refund.

The LIRA is ideal for clients who have changed employers and wish to transfer funds from their group pension plan to an individual plan to keep greater control over their investments. A LIRA offers the same advantages as an RRSP.

Available to anyone 18 years or older, the TFSA is a unique savings account that allows your clients to grow their savings on a tax-free basis for a personal project. An extremely flexible savings vehicle, your clients may withdraw funds whenever they want without any tax penalty.

The FHSA is a registered savings account designed to help future homeowners save for the purchase of a first home in Canada. Combining the advantages of an RRSP and a TFSA, the FHSA allows you to deduct contributions from taxable income and generate tax-free returns.

This plan works like a personal savings account. It allows your clients to save money for a project or to grow their retirement income if they have reached their maximum RRSP and TFSA contribution limits. Your clients get a higher return than on their bank account and have access to our different investment options.

An RRIF acts as an extension of a registered retirement savings plan (RRSP). It allows your clients to utilize the savings accumulated during their working life. Clients have until December 31 of the year they turn 71 years of age to convert the amounts invested in their RRSP into an RRIF.

The range of investment funds offered in an RRIF is similar to that of an RRSP. Your clients may maintain the same portfolio composition that they had in their RRSP or modify it according to their short or medium-term needs.

An LIF acts as an extension of a LIRA once your clients retire. With an LIF, clients may periodically withdraw from their accumulated savings to maintain a comfortable standard of living. The LIF is almost identical to an RRIF, except for the source of the funds and the payment of a maximum annual income.

IMPORTANT - Effective January 1, 2025, new rules apply for the Life Income Fund (LIF) in Quebec.

A QROPS allows former residents of the United Kingdom (UK) to request the direct transfer of the value of the pension plan held in the UK to their new country of residence.

When all conditions are met, the funds transferred provide for a generous tax break in the UK.

A QROPS contract can only be registered as an RRSP or a RRIF.

The range of investment funds available for QROPS contracts is the same as for regular contracts.