Live offers across tracked providers in Canada — updated daily from the Giraffy database.
19 live offers compared from 16 providers, from 0.50% AMC. Updated daily.
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Retirement saving in Canada rests on three pillars: government programs (Canada Pension Plan and Old Age Security), workplace pensions, and personal registered accounts you fund yourself. For most people, the personal pillar means an RRSP (Registered Retirement Savings Plan) and increasingly a TFSA used for retirement, held with a bank, brokerage or robo-advisor and invested for the long term.
Because CPP and OAS replace only part of pre-retirement income, personal RRSP and TFSA saving is what closes the gap for a comfortable retirement.
An RRSP gives you a tax deduction on contributions and defers tax until withdrawal in retirement, when income is usually lower; a TFSA gives no deduction but tax-free growth and withdrawals. Contribution room is set annually (18% of income up to a cap for RRSPs). At retirement an RRSP typically converts to a RRIF or annuity. You choose how the money is invested — from robo-advisor portfolios to self-directed ETFs — and the provider's fees directly affect your final balance.
Workplace group RRSPs and defined-contribution pensions, often with employer matching, are a valuable additional layer.
Tax advantages — RRSP deductions defer tax; TFSA growth and withdrawals are tax-free.
Compounding — decades of reinvested growth build a substantial retirement pot.
Employer matching — group plans often add free money through matched contributions.
Flexibility — choose managed or self-directed investing to match your comfort level.
Decide between RRSP and TFSA based on your current versus expected retirement tax rate — higher earners often favour the RRSP deduction, while those with lower or uncertain income lean TFSA. Then pick a provider on cost and approach: a robo-advisor for hands-off management, a low-cost brokerage for self-directed ETFs, or a bank for integrated service. Always capture any employer match first, and mind the management-expense ratios, since fees compound against you.
Wealthsimple and Questrade are popular low-cost homes for RRSP and TFSA investing, while the bank brokerages (TD, RBC and CIBC registered plans) offer integrated service and advice. Manulife is a major administrator of workplace group retirement plans, and EQ Bank offers registered savings and GIC options. Many Canadians hold a workplace group RRSP alongside a personal Wealthsimple or Questrade account.
The key cost is the annual management or fund fee. Robo-advisors charge roughly 0.4% to 0.5% a year plus ETF costs, self-directed ETF investing can cost well under 0.5% all-in, while traditional mutual funds may carry management-expense ratios above 2%. In the market these fees commonly fall in the 0.5% to 1% range for managed options — small differences compound to large sums over decades.
Investment providers are regulated by CIRO with provincial securities oversight (the OSC and, in Quebec, the AMF). Client assets are protected against dealer insolvency by CIPF up to C million. Registered-plan rules are set by the Canada Revenue Agency, and workplace pensions are governed by federal or provincial pension-benefits legislation. Government CPP and OAS are administered federally.
RRSP or TFSA for retirement? — Broadly, RRSP suits higher current earners deferring tax; TFSA suits lower or flexible-income savers wanting tax-free withdrawals.
What happens to my RRSP at retirement? — It typically converts to a RRIF or annuity that pays taxable income.
Should I use both? — Yes if you can; many Canadians contribute to both and capture employer matches in a group plan.
Giraffy tracks 5 pension and retirement savings products across Wealthsimple,TD,Meridian Credit Union,Desjardins providers in Canada. Compare by Annual Management Charge (AMC) and investment fund range to find the best fit for your retirement timeline.
Pension types typically include employer workplace pensions (with contribution matching), personal pensions (self-directed), and government schemes. Check your country's specific rules on contribution limits and tax relief — these vary significantly.
A common benchmark is to aim for a retirement income of about 60–80% of your pre-retirement earnings. As a savings target, contributing 15% of your gross income from your mid-20s — including employer contributions — is a widely cited starting point. Pension calculators help model your specific situation.
Retirement savings access ages vary by country and account type. In the UK, pension access starts at age 55 (rising to 57 in 2028). Australia allows access to super from preservation age (currently 60). Check your local rules — early withdrawal penalties and tax consequences can be severe.
The Annual Management Charge (AMC) is the ongoing fee on your pension fund — typically 0.1–0.75% per year of your pot's value. On a £100,000 pot, a 0.5% AMC costs £500/year and compounds over time. Over 30 years, a 0.5% difference in charges can reduce your final pot by tens of thousands of pounds.
Automatic enrolment means eligible workers are enrolled into a workplace pension without having to opt in — the UK, Australia, Ireland, and several other markets operate similar mandatory or auto-enrolment systems. Employer contributions are effectively 'free money', so opting out generally costs you significantly over time.