The Savings and Investment Plan is a qualified retirement plan and provides a convenient and tax-effective way for you to build financial resources for your future by saving today. And, when you work at saving for retirement, the Tilis will work with you by adding matching contributions to your savings account. These matching contributions are a second source of retirement income provided to you by the Tilis over and above the retirement benefits provided to you through the RCCS Pension Plan.

RESP

Registered Educational Savings Plans are a unique and positive way of saving for your children's education. Maximum annual contributions of up to $4,000 are allowed. Deposits of up to $2,000 per year per child under the age of 18 will be given a 20% government grant (up to $400 per year per child) that is automatically deposited into the RESP account when used toward post-secondary educational purposes. See our Links page for further information.

RRSP

RRSP contributions will provide Canadian contributors immediate tax relief toward the funding of their Registered Retirement Savings Plan. Contributions of up to 18% per year of salary for the tax year 2004 are $15,500, $16,500 for 2005 and $18,000 for 2006. After 2006 the limits will be indexed to average wage growth thereafter. RRSP guidelines also allow carry forward of unused RRSP credits to be utilized in future years. The objective of RRSP's should be to achieve a retirement income equal to 70% of pre-retirement earnings.

Group RRSP's

Group RRSP provide monthly convenience of payroll deduction, which, in turn, provides immediate tax relief on each contribution made. Monthly contributions through a Group RRSP offer a simpler and less tedious way of saving for retirement.

Tilis Insurance & Financial Services Inc. offers:

  • Group RRSP that assist in determining the mix of investment funds that best suits each member risk tolerance and retirement goals.
  • Help one to understand the asset mix best chosen for their investment personality.
  • Assist in the selection of the appropriate funds for one investment portfolio, while attempting to maximize return, based on historical and expected returns over a long period of time.
  • Provide web access to participants to view their individual account at their own convenience.