A Great Investment – the SCS
Group RRSP
It is that time of year
again – tax season looms at a time when there is much economic
uncertainty. Investing in an RRSP is a
great way to reduce your personal taxes and plan for your future
retirement. You can also benefit
How can this be RRSP
eligible?
- you contribute to the SCS Group RRSP
(Mortgage Trust) which “buys” you a proportionate share in the mortgage
registered against the school’s property on behalf of the Group RRSP
Trust.
- you are paid a fixed annual rate of return
and as it is registered with the Canada Revenue Agency (CRA) it is fully
tax deductible just like any other RRSP.
Why choose the SCS Group
RRSP over your other options?
- the plan lets you invest in SCS while still
saving for your retirement.
- you benefit through a competitive rate and
the ability to help the school keep its overall budget expenses down.
- the school benefits by being able to
“self-fund” part of our debt at a lower rate of interest than the bank
charges
Can you contribute to a
spousal plan? For sure!
Can you transfer existing
RRSPs? Absolutely!
We will assist you with the paperwork.
Are there any fees? You
don’t pay any fees. The School pays
annual trustee fees.
Is there a minimum deposit? Yes –
Initial Deposit/Transfer must be $5,000 or greater (as the school does pay an
administrative fee to the trustee on each RRSP).
Can you early withdraw? Yes, on
any valuation date with a minimum 60 days notice. However, the longer you keep
your funds in, the more your RRSP grows and the more beneficial it is to the
school.
Who administers the RRSP? Canadian
Western Trust.
Does my information with
them remain confidential? Yes.
So, what’s the rate for 2009? Rates will be posted when they become available.
How do I get started? Contact
the school office for application and/or transfer forms
You can contact Christina Binnema or