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Personal Banking > Investments > Accounts and Products > RRSP – Registered Retirement Savings Plan > RRSP Contributions > Set Up Pre–Authorized Contributions

Set Up Regular Contributions

When it comes to doing the things you want to do, and buying the things you want to buy, now is always better than later. That’s also true for investing–the sooner you start, the better off you’re likely to be. The problem is that there’s only so much money to go around. So, do you spend your money on a new couch or do you save for your future by starting an investment plan? The answer is simple: do both with RBC RSP-Matic®. It’s a way to invest regularly and still have a life. Use the RSP-Matic® Calculator and see how convenient it is to save with regular, automatic contributions.


Set up regular contribution to your RRSP online

If you are an RBC online banking client and have an existing RRSP account you can save for the future by setting your RSP-Matic® pre-authorized contributions online.

Set up your RSP-Matic® now


Invest in the "Future"

If you start 10 years earlier, at just a $1 a day, you'll have gained an addtional $42,145 by the time you reach age 65.

It Pays to Invest Early

  • Start with as little as $30 a month, consistent contributions is the ideal way to get your plan going.
  • Making regular contributions over time can help minimize the impact of market fluctuations to your porfolio.
  • Use the RSP-Matic®calculator (opens new window) to determine how much you can save and see how quickly it can grow.
  • Use your savings for retirement-or for other things like education or your first home.

Live for Today, Save for Tomorrow

Let's explore the immediate benefit of making an RRSP contribution for an individual with $30,000 in taxable income taxed at a typical combined federal and provincial tax rate.

Savings That Benefit You Now
  $ 0 RRSP Contribution $ 2,000 RRSP Contribution
Taxable Income $ 30,000 $28,000
Combined Federal and Provincial Tax $4,550 $4,100
Deferred Tax $0 $450
  • Contributions are automatic and can come from your chequing or savings account at RBC or from another financial institution.
  • Adjust your contribution amount and frequency (even put it on hold) at any time. All it takes is one phone call, or a visit to Online Banking, or to your local RBC Royal Bank® Branch.
  • Contributing to an RRSP can help lower your taxable income.

RRSP contributions are tax sheltered, which can leave more money in your pocket. Use our RRSP calculators to learn more.