- Insurance protects your income, health, and family against unexpected events
- RRSPs help you build wealth for the future, fund your children's education, or start a business
- Combining both ensures you're prepared for emergencies and retirement
Why Is RRSP Important for New Immigrants?
Canada welcomes thousands of new immigrants each year-students, skilled workers, and families seeking new opportunities. As you settle in, financial planning becomes crucial for long-term stability and independence.
- RRSPs are a powerful tool to save for retirement and reduce your taxable income
- Grow your savings tax-deferred-pay tax only when you withdraw funds in the future
- Contribute as soon as you have Canadian earned income-no citizenship required
- Flexible investment options mutual funds, GICs, stocks, bonds, and more
Registered Retirement Savings Plan (RRSP)
Why Pair Insurance with RRSP Planning?
How Does an RRSP Work for New Canadians?
Open an RRSP
As soon as you have earned income in Canada, you're eligible to contribute
Contribute and grow
Deposits are tax-deductible, and investments grow tax-free until withdrawal
Withdraw in retirement
Withdrawals are taxed, but likely at a lower rate than while working
Benefit from early planning
The sooner you start, the more your savings can grow
RRSP Benefits for New Immigrants
- Tax savings: Reduce your taxable income each year you contribute
- Long-term growth: Investments compound tax-free until you're ready to use them
- Financial independence: Less reliance on government benefits or family support in retirement
- Flexible use: Funds can help with retirement, buying a first home (via the Home Buyers' Plan), or lifelong learning (Lifelong Learning Plan)
Why Choose Punjab Insurance?
Access to Canada's top insurers and competitive quotes
Expert advisors to help you compare options and choose the right coverage
Transparent advice on the pros and cons of each option
FREQUENTLY ASKED QUESTIONS
Frequently Asked Questions about
New Immigrant & RRSP
Can I open an RRSP as a new immigrant?
Yes-once you have Canadian earned income and file a tax return, you can start contributing.
What investment options are available?
RRSPs can hold mutual funds, GICs, stocks, bonds, and more.
How do I get started?
Get a free quote or schedule a call with a licensed Punjab Insurance advisor for personalized help.
GOOGLE REVIEWS
Why Families & Businesses Choose Punjab Insurance
Aisha Malik
Sep 18, 2025
"I purchased a term life insurance plan and was impressed by the professionalism and clarity. The advisor patiently explained all options and helped me choose the right coverage. The process was smooth, and I now feel confident that my family's financial future is well protected."
Emily Carter
July 12, 2025
"Getting my health insurance was quick and hassle-free. The team guided me through multiple plans, explained benefits in detail, and answered all my questions. I felt reassured throughout the process. Their transparency and responsiveness made selecting the right policy."
Owen Mitchelle
Feb 14, 2025
"I recently filed a small claim and was impressed with how efficient and smooth the process was. The staff guided me step by step, and I received the payout promptly. The experience gave me full confidence in their service and made me feel secure about my coverage."
Arjun Patel
Nov 28, 2024
"Choosing a term insurance plan felt overwhelming at first, but the team made it simple and straightforward. They explained exactly what was covered and addressed all my questions. Premiums are affordable, and I now feel confident that my family is financially protected."
Rahul Mehta
Aug 27, 2025
"Overall, I had a positive experience purchasing health insurance. The policies were explained clearly, and I felt no pressure to decide quickly. Some email responses were slightly delayed, but the staff was friendly and helpful. I am satisfied with the coverage."
Meera Kapoor
Mar 22, 2025
"I was looking for reliable health insurance and found the team very supportive. They explained all policy benefits and helped me select the best coverage for my needs. It took a little longer than expected to receive all documents, but the overall process was smooth and reassuring."
Build a secure financial future in Canada with an RRSP designed for new immigrants. An RRSP from Punjab Insurance helps you start saving efficiently, understand your options, and plan for retirement with confidence-so you can focus on building your life and thriving in your new home.
Disclaimer: Information on this page is for general guidance only and not a substitute for professional advice. Please consult a licensed Punjab Insurance advisor for personalized recommendations.