At Archway Insurance, we believe in equipping our clients with the insurance they need to ensure financial security throughout their lives. This goes beyond securing their home with Mortgage Cancellation Insurance and Life Insurance to helping you prepare financially for major milestones throughout your life. Whether you’ve started a family or are welcoming your first grandchild, there is no better time to start saving for the cost of their future education than today. Our RESP products enable you to maximize government grants, multiplying savings for your future student, reducing their need to begin adulthood with the stress and financial pressures of a large student loan.

Dreaming of retirement? Ask about our RRSP and Tax-Free Savings (TFSA) products to help you achieve your personal goals such as security, travel or earlier retirement. Our advisors work with you to understand your unique needs and build a plan that helps you achieve a better quality of life.

We also offer Group Retirement Services to our corporate clients. We have solutions for small, medium and large sized businesses, including:

  • Deferred Profit Sharing Plans (DPSP)
  • Group Registered Retirement Savings Plans (RRSP)
  • Group Registered Pension Plans (RPP)
  • Non-Registered Savings Plan (NRSP)
  • Tax-Free Savings Accounts (TFSA)
  • Voluntary Retirement Savings Plan – Quebec only (VRSP)

We will help you navigate the differences between these Savings Plans, and we will help you choose the best fit for your organization. These plans are customizable to suit your budget.

Group retirement plans are a fantastic incentive to attract & retain key employees, while also easing their stress about their financial future.

FAQs

What is the difference between a Registered Retirement Savings Plan (RRSP) and a Tax-Free Savings Account (TFSA)?

There are many differences between a RRSP and a TFSA, however most notably RRSP contributions offer you a taxable benefit at the time of contribution, but withdrawals become taxable. Alternatively, TFSA contributions do not offer you taxable benefit at the time of contribution, however principle and growth within the plan can be withdrawn tax-free.

Are RESP contributions tax deductible?

While your RESP contributions are not tax deductible, your money grows tax-free while it is in the RESP, and is not subject to tax until:
The money is withdrawn to pay for the child/beneficiary’s education. Then, the grant and income portions are taxable to the child. Since many students have little or no other income, they can usually withdraw the money tax-free; or you close the RESP and pay back any remaining grants.

Who can contribute to a Tax Free Savings Account (TFSA)?

To contribute to a Tax Free Savings Account; you must be a Canadian resident, at least 18 years old, have a social insurance number, and have not exceeded your TFSA limits elsewhere. Unlike a registered retirement savings plan (RRSP), you don’t need to earn an income to contribute, and you can contribute until any age.

Testimonials

"Great service, a place where you are treated as a customer and not just a number."
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Carolyn H Google Review
"The service I received from Stacie at Archway Insurance was more than excellent. The service was fast and Stacie was very knowledgeable and helped educate me on what I needed to do. I would highly recommend this company for your insurance needs. They are exceptional."
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Karen S Google Review
"Customer service at Archway is exceptional. I have always had positive experiences and the staff are professional, responsive and courteous. Would highly recommend them."
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Michelle L Google Review
"Excellent service! Very attentive to my family's needs."
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Darren C Google Review
"Painless transaction. Had to sign a form. Was in and out in 3 mins."
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Mike W Google Review
"We live in Ontario and my son is attending College in Sydney which made arranging insurance a bit more difficult. Archway was amazing, the Customer Service I received was top notch. Great people to deal with."
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Matt S Google Review

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