RRSPs: An investment in the future
When you invest in a Trinity Western University RRSP, you get more than a great rate on a unique investment opportunity. You'll be investing in TWU--helping to build a brighter future for our students and, through them, a brighter future for communities around the world.
Ideal for the conservative portion of your RRSP or RRIF portfolio, Trinity Western’s Registered Investment Program is secured by a first mortgage on a campus building. The Program is registered and authorized by Canada Revenue Agency, and administered by Canadian Western Trust—and your participation helps to save the University thousands of dollars in interest costs each year.
The ABCs of RRSPs
A Registered Retirement Savings Plan is a government-approved plan through which you save money for your retirement years. Your contributions, within limits, are tax deductible, and the income earned is tax-sheltered. Anyone under the age of 71, with earned income subject to Canadian taxation, may contribute to an RRSP. You can contribute all or a portion of your eligible contribution limit to your own RRSP or to a Spousal RRSP plan.
When you retire
If you are a Canadian who has turned 71, the Income Tax Act requires you to roll over all RRSP funds, but theres no need liquidate your RRSP. A simple account application form is all that's required to convert your RRSP to a Trinity Western University RRIF.
Trinity Western University Registered Retirement Savings Plan
The Trinity Western University Registered Retirement Savings Plan is a plan under which supporters of Trinity Western University establish individual RRSPs. The plan invests in a mortgage on certain properties of the University - a qualified investment under the Income Tax Act (Canada) - at a competitive interest rate.
There is no administration or other cost to the annuitant. The costs of operation, administration and marketing are borne by Trinity Western University. A nominal fee is assessed only on RRSP withdrawals and transfers out to other institutions.
Details
- Structure and Administration
- Tax-deductible Contributions and Transfers
- Prevailing Interest Rates
- Reporting to Investors
- Term
- Income Tax Receipts
- Security Disclosure Statement
- Declaration of Trust
- Disclosures
- Contributions
- Transfers
- Forms
Structure and Administration
TWUs Retirement Savings Plan:
- is registered with Canada Revenue Agency as RSP 418-045
- is trusteed by Canadian Western Trust Company.
- is primarily administered by Canadian Western Trust Company under a Memorandum of Agreement with the University.
- invests in a pari passu first mortgage on a certain campus property.
Tax-deductible Contributions and Transfers
To participate in the Group RRSP, investors must complete an Application form. Upon acceptance, tax-deductible contributions may be made at any time, either by electronic funds transfer (EFT), cheque, or series of post-dated cheques. Cheques should be made payable to "Trinity Western University Group RRSP".
Existing plans on deposit with other institutions can also be transferred in on maturity using a T2033 transfer form.
Monthly RRSP contributions may be made by EFT or post dated cheques.
We welcome individual, spousal and RRIF inquiries.
Interest Rates
Annuitant plans are invested in a mortgage on certain Trinity Western University properties. Interest rates are set, paid and compounded semi-annually, each January and July.
Please see Interest page for the current interest rate.
Reporting to Investors
Personal statements of contributions and earnings are mailed at least annually at December 31. These statements are accompanied by the Auditor's verification requests.
Term
Investments in TWUs Group RRSP remain in the Plan until maturity. Withdrawals or transfers out from the plan can be made twice per year, at June 30 and December 31. Requests must be made in writing, at least 30 days before the withdrawal date. Withdrawals and transfers are subject to standard transfer fees.
Income Tax Receipts
For contributions made during the first sixty (60) days of a new year, income tax receipts are issued in early March. The receipts may be used for either the year in which the contributions were made or for the prior taxation year.
For contributions made during the remainder of the year, income tax receipts will be issued in January of the following year. These receipts may be used for the year in which the contributions were made.
Security Disclosure Statement
The proceeds from this private offering are used to fund capital costs of the University.
The investor's security is an interest in a mortgage against the campus property. This mortgage is held on a pari passu basis with a mortgage issued to the primary lending institution.
Investments in this mortgage are not guaranteed. The mortgage is not covered by any insurance. As such, the investors should consider the appropriateness of this investment for their purposes.
Declaration of Trust
The Declaration of Trust is an integral part of the Specimen Plan registered with Canada Revenue Agency and contains the formal terms, conditions, and stipulations that govern the operation of the Plan.
A copy of this declaration will be issued upon request.
Disclosures
TWU RRSP funds are not government guaranteed or insured by the Canadian Deposit Insurance Corporation
No securities commission or similar regulatory authority has passed on the merits of the securities offered nor has reviewed this information summary. As these are being offered under section 46 of the Securities Act, the purchaser will therefore not have any civil remedies available in the Securities Act.
A purchase of the securities offered must be considered speculative and will not qualify for a charitable donation for income tax purposes in case of default.
The above information is for general information only and not intended to provide legal or tax advice.
Contributions
Tax-deductible contributions to TWUs RRSP program can be made at any time, and begin earning interest immediately. Contributions can be made by electronic funds transfer (EFT) or cheque. Cheques should be made payable to Trinity Western University Group RRSP.
Monthly RRSP contributions can be made by electronic funds transfer (EFT) or a series of post-dated cheques. Please make cheques payable to Trinity Western University Group RRSP.
Transfers
Existing RRSP or RRIF plans on deposit with other institutions can be transferred to the TWU plan using a T2033 transfer form. The T2033 forms are available below.
Printable Forms
Group Retirement Savings Plan - Application for Membership
Transfer Authorization for Registered Investments (T2033 form)