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Written by: Tradex

Last month we reviewed the first two primary sources of income in retirement: your public service pension plan (PSPP) and Canadian government pension plans. This month we consider the third source: your personal savings.

Your Retirement Savings

Your retirement savings is the amount put aside to reach your personal income goal to supplement your guaranteed pension income and achieve your standard of living and consistent cash flow in retirement. RRSPs and TFSAs are both financial vehicles that help you save for the future by growing your savings tax-efficiently. The choice of one over the other depends on your personal financial situation, your stage of life and your savings goal.

What is the best choice for you?

Investment Choices

You can hold a variety of invesment products in your RRSPs and TFSAs incuding equity and fixed income mutual funds, guaranteed invesment certificates and high interest savings accounts. The right product depends on your personal and financial situation, your risk tolerance, your investment time horizon and your goals.

Attend our first in-person, pre-retirement course for Ontario Public Servants to get answers to the following questions!

  • How much should I contribute to my RRSP?
  • How much should I contribute to my TFSA?
  • How can I build a portfolio that complements my retirement objectives
  • When would be the best time to retire? What will be my tax rate in retirement?
  • How do I maximize my retirement income in a tax-efficient way?

Please join us for our first in-person pre-retirement course for Ontario Public Servants in Toronto on September 21st, Vantage Venues 150 King Street West, Toronto. Watch for our upcoming article on bringing the three primary sources of retirement income together with retirement income projections. Contact us at, by phone at (613) 233-3394 / Toll-free: 800-5673863 or visit our website at