RRSP Plans

Build your retirement savings, without the risk!

Risk-free RSP Banner
The risk of locking into a Retirement Savings Plan (RSP) early in the year is that the rate could go up later, leaving you stuck with a lower rate (and a lifetime of regret).

With our Risk-Free RSP, if you invest now and our rates go up later in the year, you’ll automatically get the higher rate (up to 2.50%). By contributing to your Luminus RSP by March 1st, you’ll get your tax break now and our best rate all year long. So you can invest without fear of regret.

To start your No-Risk RSP or transfer please visit our Financial Hub or call one of our Member Relations Officers at 1.877.782.7639.

What is an RRSP?

The Government of Canada introduced the Registered Retirement Savings Plan (RRSP) more than 50 years ago to encourage people to save for their retirement. An RRSP is still one of the best tax-saving and retirement planning tools around.

RRSP Advantages

  • Tax-deductible contributions – Contributions, within limits, are tax deductible.
  • Tax-sheltered earnings – Any income you earn in an RRSP is usually exempt from tax as long as the funds remain in the plan.
  • Tax deferral – Although you are required to pay tax on your RRSP savings when you withdraw them from the plan, you will have deferred this to the future when it’s likely that your marginal tax rate will be lower than it was during your peak income-earning years.

Special investment plans

Luminus has a variety of special investment plans that you can choose from for your RRSP investments:

  • High interest savings account at 2.50% - liquid and readily accessible.
  • 1 year GIC at 2.30%.
  • 2 year GIC at 2.25%.
  • Escalator Term Deposits – long term with growth.
5 Year Escalators Rates
1st Year 1.35%
2nd Year 1.55%
3rd Year 1.75%
4th Year 1.95%
5th Year 3.50%*

Need a loan to make more contributions? We have investment loans available with rates starting at 4.50%.


For more information, please visit our Financial Hub or call one of our Member Relations Officers at 1.877.782.7639. Tell us where you want to be in 2050, and we will help you maximize your savings!
The Deposit Insurance Corporation of Ontario (DICO) provides separate unlimited deposit insurance protection for deposits held in registered savings plans while non-registered deposits (savings accounts, term deposits, GICs ,chequing accounts, certified cheques, money orders, “bank” drafts and funds in transit) in the name of an individual member are covered up to a combined maximum of $250,000. Visit the DICO website for full details.
*Effective rate over the maximum five-year term of an escalator deposit is 2.10%. All interest rates are paid and compounded annually.

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