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Happy coupleImportant information about your Group RRSP
Do you know how much you can contribute to your 2007 Group RRSP?
  • For 2007, the contribution limit* is 18% of your previous year's earned income, or $19,000.
*For your contribution information check your Notice of Assessment. For more information, go to the CRA Web site at www.cra-arc.gc.ca or call 1-800-959-8281.

February 29, 2008 is the last day to contribute in order to be eligible for the 2007 tax year.

Benefits to making additional contributions
Increasing your Group RRSP with additional contributions will:
  • Let you take full advantage of your contribution limit,
  • Reduce the amount of income tax you pay now, and
  • Provide more money to fund your retirement.
How to make additional contributions
You have two methods to choose from to contribute through Manulife Financial:

1. Do a lump-sum deposit: electronically or manually, by using the Lump-Sum Deposit Form, or
2. Obtain a RRSP loan from Manulife Bank.

Advantage of a Manulife Bank loan
  • Interest rate at Manulife Bank prime (floating).
  • All RRSP loans are deposited directly to your company-sponsored Group RRSP. In order to apply for a loan, your company must offer a Group RRSP.
  • With the 90-day deferral option, you can apply your tax refund to your loan before your first payment is due.
  • For the 90-day deferral option, interest continues to accrue during the payment-deferral period.
  • Repay your loan early without penalty or make a lump-sum payment.
  • No application fee and a variety of payment options.
Loan approval is granted based on underwriting criteria, including your credit rating.

Apply for your loan today! Complete the loan application online.

For assistance on completing the loan application, use the Step-by-step instruction sheet.

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