Registered products

Choose from a range of registered investment solutions to help reach your financial goals. Our array of accounts can hold a choice of financial products, including investments and deposits. 

Registered products offer specific benefits, including tax deferrals or grants, depending on your specific needs, your contributions and personal circumstances. You can open a registered account online or speak with an HSBC representative to learn more.

 

TFSA (Tax-Free Savings Account)

  • Save as long as you like, for whatever you choose
  • Choose from a range of investment options or deposit products
  • Get advice or manage on your own, online and in-person

RRSP (Registered Retirement Savings Plan)

  • Save for your retirement with an Registered Retirement Savings Plan (RRSP)
  • Able to hold a range of products to build long-term wealth, including investments
  • Choose from individual, spousal, and locked-in RRSPs depending on your needs
  • Available online and at your local HSBC branch

RESP (Registered Education Savings Plan)

  • Plan for a your child's or grandchild's education with a Registered Education Savings Plan (RESP)
  • Open an account with no initial contribution
  • May be eligible for government grants or incentives to boost education savings
  • Offered through HSBC Investment Funds (Canada) Inc.6

RRIF (Registered Retirement Income Fund)

  • Plan for income in retirement with a Registered Retirement Income Fund
  • Convert your current RRSP or transfer retirement savings from another financial institution
  • A variety of products to suit your needs and goals

Compare registered products

Plan and prioritize the most widely-used registered products, including RRSPs and TFSAs.
Features TFSA RRSP RRIF RESP
What it is Tax-Free Savings Account

This is an investment account that lets the investment income of your savings grow tax-free.2                 
Registered Retirement Savings Plan

This is a plan specifically designed to help you save and invest money for your retirement. The federal government encourages you to save by allowing an income tax deduction based on your contribution amount.
Registered Retirement Income Fund

This is a registered plan that provides a steady source of income in retirement.
Registered Education Savings Plan

This is a registered plan specifically designed to help your invest for post-secondary education for your children or grandchildren.
Key customer benefits
An ideal all-purpose investment account, well suited for shorter term goals like renovations, a vacation, or a down payment. You can also use the funds to supplement retirement and education savings with tax-free income. 
The high contribution limit makes it an effective way to invest for retirement.
Provide income in retirement while allowing your investments to continue to grow.
An additional way to save for a child’s, or grandchild’s, education. Family plans can cover more than one sibling. Federal and provincial grants may be available.
Contribution limit
Annual limit of $6,000 in 2019, $5,500 for 2016 to 2018, $10,000 for 2015, $5,500 for 2013 to 2014, $5,000 for 2009 to 2012. 

Unused contribution room may be carried forward indefinitely, and prior year withdrawals may be re-contributed. 
Up to 18% of your earned income less pension adjustments (to a maximum of $26,230 in the 2018 tax year, and $26,500 in 2019). Any unused contribution room can be carried forward from year to year. 
A RRIF is created or contributed to by transferring your RRSP, another RRIF, or in some limited cases a registered pension plan, into it. No further contributions are allowed. No further contributions are allowed. 

Lifetime limit of $50,000 per beneficiary. No annual limit.
Tax deduction
No Yes No No
Key tax benefits
Investment income and growth is not subject to Canadian income tax
Contributions reduce your taxable income, which means you pay less tax. Taxation of any investment growth and income within the plan is deferred until withdrawal.
You pay tax only on what you withdraw, allowing accumulated investments to continue to grow tax-free.
Taxes are deferred on all investment growth. Principal can be withdrawn tax-free. Accumulated income and government grants are taxed in the student’s hands.
Withdrawal rules
Money may be withdrawn tax-free. The amount withdrawn from a Tax-Free Savings Account can be put back starting from the beginning of the following year.

Withdrawals are generally subject to a withholding tax and must be reported as income. No taxes are incurred if the money is transferred to a RRIF, another RRSP or a registered pension plan.

By the end of the year you turn 71, your options include transferring the money in the plan to a RRIF, or withdrawing it.

You don’t have to daw income from a RRIF the year you establish it, but must start making minimum withdrawals the following year. The minimum withdrawal is a percentage of the account’s value and is based on your age. 
Principal can be withdrawn, tax-free, at any time but may cause government grants to be repaid. Income earned within the RESP and government grants can be paid to a beneficiary once he/she is enrolled in a qualifying post-secondary program. Plan must be collapsed after 35 years.
Investment options2

HSBC Mutual Funds, HSBC Wealth Compass™ Funds, HSBC World Selection®  Diversified Funds3

HSBC World Selection®  Portfolio Service5

HSBC InvestDirect4

HSBC Private Investment Management

HSBC savings and deposit products

Pre-authorized contribution plans available. 

HSBC Mutual Funds, HSBC Wealth Compass™ Funds, HSBC World Selection®  Diversified Funds3

HSBC World Selection®  Portfolio Service5

HSBC InvestDirect4

HSBC Private Investment Management

 

HSBC savings and deposit products

Pre-authorized contribution plans available.

HSBC Mutual Funds, HSBC World Selection®  Diversified Funds3

HSBC World Selection®  Portfolio Service5

HSBC InvestDirect4

HSBC Private Investment Management

HSBC savings and deposit products

Regular withdrawal plans available.

 
HSBC Mutual Funds, HSBC World Selection®  Diversified Funds3

HSBC InvestDirect4

Pre-authorized contribution plans available.

 
Savings tip
Withdrawals aren’t reported as income for Canadian income tax purposes, so it won’t affect eligibility for Old Age Security or other income-tested benefits.
You may borrow up to $35,000 tax-free from your RRSP for the purchase of a first home under the Home Buyer’s Plan or up to $20,000 for educational purposes under the Lifelong Learning Plan. The withdrawal must be repaid in prescribed installments, or it becomes taxable.
If you have a younger spouse, you can reduce the minimum taxable withdrawal by basing the RRIF on your spouse’s age.
Top up contributions with matching Canadian Education Savings Grants (CESG) of up to $500 per beneficiary, per year, to a lifetime maximum of $7,200. Provincial grants may also be available. Lower income families may be eligible for more grants. Age restrictions apply.
Open a mutual funds account online
HSBC Wealth Compass
HSBC Wealth Compass
   
Self-directed online investing
HSBC InvestDirect
HSBC InvestDirect
HSBC InvestDirect
HSBC InvestDirect
Speak with an HSBC representative

Book an appointment

Or call 1-888-310-4722

 

Book an appointment

Or call 1-888-310-4722

 

Book an appointment

Or call 1-888-310-4722

 

 

Book an appointment

Or call 1-888-310-4722

 

 

Compare registered products

Plan and prioritize the most widely-used registered products, including RRSPs and TFSAs.
Features What it is
TFSA Tax-Free Savings Account

This is an investment account that lets the investment income of your savings grow tax-free.2                 
RRSP Registered Retirement Savings Plan

This is a plan specifically designed to help you save and invest money for your retirement. The federal government encourages you to save by allowing an income tax deduction based on your contribution amount.
RRIF Registered Retirement Income Fund

This is a registered plan that provides a steady source of income in retirement.
RESP Registered Education Savings Plan

This is a registered plan specifically designed to help your invest for post-secondary education for your children or grandchildren.
Features Key customer benefits
TFSA An ideal all-purpose investment account, well suited for shorter term goals like renovations, a vacation, or a down payment. You can also use the funds to supplement retirement and education savings with tax-free income. 
RRSP The high contribution limit makes it an effective way to invest for retirement.
RRIF Provide income in retirement while allowing your investments to continue to grow.
RESP An additional way to save for a child’s, or grandchild’s, education. Family plans can cover more than one sibling. Federal and provincial grants may be available.
Features Contribution limit
TFSA Annual limit of $6,000 in 2019, $5,500 for 2016 to 2018, $10,000 for 2015, $5,500 for 2013 to 2014, $5,000 for 2009 to 2012. 

Unused contribution room may be carried forward indefinitely, and prior year withdrawals may be re-contributed. 
RRSP Up to 18% of your earned income less pension adjustments (to a maximum of $26,230 in the 2018 tax year, and $26,500 in 2019). Any unused contribution room can be carried forward from year to year. 
RRIF A RRIF is created or contributed to by transferring your RRSP, another RRIF, or in some limited cases a registered pension plan, into it. No further contributions are allowed. No further contributions are allowed. 

RESP Lifetime limit of $50,000 per beneficiary. No annual limit.
Features Tax deduction
TFSA No
RRSP Yes
RRIF No
RESP No
Features Key tax benefits
TFSA Investment income and growth is not subject to Canadian income tax
RRSP Contributions reduce your taxable income, which means you pay less tax. Taxation of any investment growth and income within the plan is deferred until withdrawal.
RRIF You pay tax only on what you withdraw, allowing accumulated investments to continue to grow tax-free.
RESP Taxes are deferred on all investment growth. Principal can be withdrawn tax-free. Accumulated income and government grants are taxed in the student’s hands.
Features Withdrawal rules
TFSA Money may be withdrawn tax-free. The amount withdrawn from a Tax-Free Savings Account can be put back starting from the beginning of the following year.
RRSP

Withdrawals are generally subject to a withholding tax and must be reported as income. No taxes are incurred if the money is transferred to a RRIF, another RRSP or a registered pension plan.

By the end of the year you turn 71, your options include transferring the money in the plan to a RRIF, or withdrawing it.

RRIF You don’t have to daw income from a RRIF the year you establish it, but must start making minimum withdrawals the following year. The minimum withdrawal is a percentage of the account’s value and is based on your age. 
RESP Principal can be withdrawn, tax-free, at any time but may cause government grants to be repaid. Income earned within the RESP and government grants can be paid to a beneficiary once he/she is enrolled in a qualifying post-secondary program. Plan must be collapsed after 35 years.
Features Investment options2
TFSA

HSBC Mutual Funds, HSBC Wealth Compass™ Funds, HSBC World Selection®  Diversified Funds3

HSBC World Selection®  Portfolio Service5

HSBC InvestDirect4

HSBC Private Investment Management

HSBC savings and deposit products

Pre-authorized contribution plans available. 

RRSP

HSBC Mutual Funds, HSBC Wealth Compass™ Funds, HSBC World Selection®  Diversified Funds3

HSBC World Selection®  Portfolio Service5

HSBC InvestDirect4

HSBC Private Investment Management

 

HSBC savings and deposit products

Pre-authorized contribution plans available.

RRIF HSBC Mutual Funds, HSBC World Selection®  Diversified Funds3

HSBC World Selection®  Portfolio Service5

HSBC InvestDirect4

HSBC Private Investment Management

HSBC savings and deposit products

Regular withdrawal plans available.

 
RESP HSBC Mutual Funds, HSBC World Selection®  Diversified Funds3

HSBC InvestDirect4

Pre-authorized contribution plans available.

 
Features Savings tip
TFSA Withdrawals aren’t reported as income for Canadian income tax purposes, so it won’t affect eligibility for Old Age Security or other income-tested benefits.
RRSP You may borrow up to $35,000 tax-free from your RRSP for the purchase of a first home under the Home Buyer’s Plan or up to $20,000 for educational purposes under the Lifelong Learning Plan. The withdrawal must be repaid in prescribed installments, or it becomes taxable.
RRIF If you have a younger spouse, you can reduce the minimum taxable withdrawal by basing the RRIF on your spouse’s age.
RESP Top up contributions with matching Canadian Education Savings Grants (CESG) of up to $500 per beneficiary, per year, to a lifetime maximum of $7,200. Provincial grants may also be available. Lower income families may be eligible for more grants. Age restrictions apply.
Features Open a mutual funds account online
TFSA HSBC Wealth Compass
RRSP HSBC Wealth Compass
RRIF  
RESP  
Features Self-directed online investing
TFSA HSBC InvestDirect
RRSP HSBC InvestDirect
RRIF HSBC InvestDirect
RESP HSBC InvestDirect
Features Speak with an HSBC representative
TFSA

Book an appointment

Or call 1-888-310-4722

 

RRSP

Book an appointment

Or call 1-888-310-4722

 

RRIF

Book an appointment

Or call 1-888-310-4722

 

 

RESP

Book an appointment

Or call 1-888-310-4722

 

 

1Offered by HSBC Investment Funds (Canada) Inc. Total maximum combined bonuses available of $1,450 if you invest in World Selection® Portfolio or maximum combined bonuses of $1,350 if you invest in HSBC Mutual Funds (which includes mutual funds purchased online through HSBC Wealth Compass™) and meet all eligibility requirements for the Long Term Investing Bonus Offer and Regular Investing Bonus Offer. Please read the Terms and Conditions. Offer ends November 1, 2019.

2 Starting in 2009, TFSA contribution room accumulates every year. If at any time in a calendar year you are 18 years of age or older, have a valid Canadian social insurance number and are a resident of Canada, you will accumulate TFSA contribution room for that year as an eligible year.

3 Minimum investments for HSBC Mutual Funds, HSBC Wealth™ Funds and World Selection® diversified funds may apply. Speak with an HSBC Mutual Fund Advisor for details. HSBC Mutual Funds, HSBC Wealth™ Funds and World Selection® Diversified Funds are offered through HSBC Investment Funds (Canada) Inc. (“HIFC”).

HSBC Global Asset Management (Canada) Limited (“AMCA”) is the manager and primary investment advisor for the HSBC Mutual Funds. HIFC is the principal distributor of the HSBC Mutual Funds. HSBC Mutual Funds are also distributed through authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus, Fund Facts, and other disclosure documents before investing. Mutual funds are not guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other deposit insurer or financial institution. The net asset values of all mutual funds, including the HSBC Mutual Funds, may change frequently and any past performance may not be repeated. For money market funds, there can be no assurances that such funds will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you.

4 HSBC InvestDirect offers self-directed on-line access to North American and global equities from 30 domestic and global markets, options, third-party and proprietary mutual funds, and fixed income products. HSBC InvestDirect is a division of HSBC Securities (Canada) Inc., a wholly owned subsidiary of, but separate entity from, HSBC Bank Canada. Member – Canadian Investor Protection Fund. HSBC InvestDirect does not provide investment advice or recommendations regarding any investment decisions or securities transactions.

5 Minimum investments for the HSBC World Selection® portfolio service may apply. Speak with an HSBC Mutual Fund Advisor for details. 

HSBC World Selection® Portfolio is a portfolio investment service offered by HSBC Investment Funds (Canada) Inc. (“HIFC”). In this service, a client's assets are invested in model portfolios. Each model portfolio is comprised of investments in HSBC Pooled Funds, which are mutual funds managed by AMCA and distributed by HIFC. AMCA provides discretionary investment management services to the portfolios in the HSBC World Selection Portfolio service. Commissions, trailing commissions, management fees, investment management fees and expenses all may be associated with investments in the HSBC Pooled Funds and/or the HSBC World Selection Portfolio service. Please read the applicable account opening documentation and HSBC Fund Facts before applying for the HSBC World Selection Portfolio service. The HSBC World Selection Portfolio service and the HSBC Pooled Funds are not guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other deposit insurer. The value of mutual funds may change frequently and past performance may not be repeated. The unit value of money market funds may not remain constant.

® World Selection is a registered trademark of HSBC Group Management Services Limited.

6 HSBC Investment Funds (Canada) Inc. (“HIFC”) is a direct subsidiary of HSBC Global Asset Management (Canada) Limited (“AMCA”) and an indirect subsidiary of HSBC Bank Canada, and provides its services in all provinces of Canada except Prince Edward Island.  AMCA is a wholly owned subsidiary of, but separate entity from, HSBC Bank Canada.

HSBC Wealth Compass™ is a trade-mark of HSBC Group Management Services Limited used under license by HIFC.

All products and services of HIFC and AMCA are only available for sale to residents of Canada, unless the laws of a foreign jurisdiction permit sales to its residents. Please contact your HSBC Mutual Fund Advisor for more details. The contents of this site should not be considered an offer to sell or a solicitation to buy products or services to any person in a jurisdiction where such offer or solicitation is considered unlawful.

The content on this page is provided for informational purposes only. It is not intended to provide legal, accounting, tax investment, financial or other advice and such information should not be relied upon for such purpose. Please consult your tax advisor to find out which strategies suit your tax situation. HSBC makes no guarantee, representation, or warranty and accepts no responsibility or liability as to the tax treatment of these accounts or contributions to these accounts.