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Know Your Pension Options

When Leaving Your Job.

Former Employer Pension
Plans & Locked-In Accounts
I want to plan for retirement.
Your retirement is largely determined by the financial planning that goes before it. One of the best ways to save for retirement is through an RRSP. We offer a selection of investment opportunities that can help you achieve your retirement dreams.
I’m retiring soon
Creating a solid retirement income plan means identifying sources of income, developing strategies and selecting the investments that put your hard-earned savings to work. We offer a wide range of financial options to help you explore your retirement possibilities.
I want to prepare for my children’s future.
Build up a tax-sheltered fund to finance a child’s post-secondary education. A registered education savings plan (RESP) is the ideal financial vehicle to meet the job markets education requirements and help you defray mounting education costs.
Features and Advantages

  • You may designate a child, grandchild, nephew, niece, etc. as the beneficiary of an individual plan.
  • There is no restriction on the relationship between the child and you. In addition: For family plans, the beneficiaries must be related to the subscriber by blood or adoption
  • You are eligible for a government grant of up to $7,200, or 20% of your annual contributions to the plan (up to a maximum of $500 per year).
  • The beneficiary obtains an income tax deferral on his or her investment income.
  • You may change the plan beneficiary.
  • Your protection against financial market fluctuations may attain and even exceed 100% of the capital invested.
  • We pay you an education bonus of up to 15% of the total monthly contributions paid into the Diploma RESP. The bonus varies according to the beneficiary’s age at the time of enrolment.
I’m having a hard time
getting loans
Your credit score is a numerical indication of your credit worthiness. It is the primary factor that creditors and lenders use to decide whether or not they should extend credit to you.
How can I repair my credit?

  • Borrow fully secured money. Secured debts are those that are backed up by some sort of asset or guarantee. The most common examples are car loans, Investment loans or mortgages. If you don’t pay, the creditor sells the “security”. A variation on this is to have someone co-sign or guarantee your debt. In this case, they will be granting credit to your co-signer, not you. If you repay the loan, your record will benefit.
  • Obtain a secured credit card. Placing a sum of money on deposit with a bank and pledging the money as security for the card does this. If you don’t make your required payments, the bank will withdraw the money from your deposit and reduce your available credit accordingly.
  • Start an RRSP. For some reason, banks view people with RRSP’s differently. It demonstrates that you’re looking towards your future and creating POSITIVE NET WORTH. Even a small consistent monthly contribution can go a long way to improving your position with credit grantors. This will cause a marked improvement in your report.
  • Borrow when you don’t need to. Obtain a small leveraged investment loan. Make regular payments and over-time, it will have a marked improvement in your credit report.
How can CFS help me?

  • After you have paid out your outstanding debt load we will continue to work with you to re-build your credit rating and retirement savings portfolio as well as designing a financial plan to help you, our client, move forward in the short term in a productive and financially healthy manner.
  • Moving forward we can show you ways to rehabilitate damaged credit through a variety of financial tools available to us as well as balancing income with expenditures in an attempt to change the very way our client thinks and acts.
  • Our ultimate goal is to rehabilitate our client to a point where they can become a debt free, confident member of society with a solid financial plan and firm outlined goals moving forward.
  • We are proudly providing proven financial strategies to create, build, protect and transfer your wealth.