Assisting other professional staff members with pension and money-related issues when dealing with early retirement, termination, contracts, and death benefits. It provides members with the opportunity to have an individual investment plan with a choice of the widest range of publicly traded GICs, bonds, stocks, and mutual funds to chose from. The plan is ideal for members who do not have the time or knowledge to manage their investments but want to impove the return on their savings. Most school districts offer payroll deduction for monthly RRSP contributions to this program. Payroll deduction means immediate tax relief as opposed to waiting until tax time for a refund.
Most mutual funds have no entry fee but there is often an early withdrawal fee.
Stocks and no-fee mutual funds are usually subject to a low commission. Given how most members invest, few members will pay any fees. Your money manager does all the work, including, if you wish, the consolidation of existing RRSPs and other savings programs. All responsibilities, including Revenue Canada approval, rest with ScotiaMcLeod. In these instances, tax credits are calculated with each cheque, giving members immediate access to the extra income instead of having to wait for a refund at the end of the tax year.