Canada Savings Bonds

The Canada RSP

Learn about making transfers out of your plan, about withdrawals, plan maturity, and services for Canada RSP holders.

What You Need to Know

  • The Canada RSP is no longer available for purchase as of November 2017. The funds in your Canada RSP Plan are safe and guaranteed. Refer to the Questions and Answers to find out what this means to you.
  • The option to contribute or transfer in new funds into your Canada RSP Plan is no longer available.
  • The matured bonds in your existing Canada RSP Plan will continue to be reinvested into the next bond series and earn interest, but only until either November 1, or December 1, 2021, depending on the maturity date of the bond series you own.
  • After the 2021 maturity date, the funds in your Canada RSP Plan will remain accessible to you, however your Plan will no longer earn interest.
  • You may transfer the bonds from your Canada RSP Plan to another registered retirement savings vehicle at any time (including contributions to The Canada RSP Plan through the Payroll Savings Program).
  • All registered plan holders should validate their mailing address.

Plan Maturity

Matured CSBs and CPBs in The Canada RSP

Unless you advise the Trustee in writing, matured bonds will be automatically be reinvested into the next bond series and earn interest, but only until either November or December 2021, depending on the maturity date of the bonds you own. After the 2021 maturity date, your Canada RSP Plan will remain accessible to you, but the bonds in your Plan will no longer earn interest and you will need to advise the Trustee on how best to manage your Plan (i.e. transfer out or withdraw). You may transfer out your bonds to another registered savings plan or withdraw them at any time.

Status of The Canada RSP at Age of 71

  • A plan maturity notice will be sent to you by the Trustee prior to December 31 of the year in which you turn 71, asking you to provide written instructions about what you would like to do with your Canada RSP Plan.
  • If you do not provide written instructions to the Trustee and you have a minimum balance of $500 in The Canada RSP, the investments will automatically be transferred from The Canada RSP to The Canada RIF to avoid having you pay tax on the total proceeds. If the value of your Canada RSP Plan is less than $500, any applicable taxes will be deducted and the balance of your Plan will be paid out.

Statements

Statements of account will be issued by the Trustee on a semi-annual basis, as of June 30 and December 31. Please ensure your mailing address is up-to-date.

Services for The Canada RSP Holders

Find out about address and legal name changes, and other services for The Canada RSP holders.

The Canada RSP Terms and Conditions

See Terms and Conditions and Declaration of Trust for more information and find the latest version of the Trustee’s Privacy Code.