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Saving for retirementHow the RSP worksCostJoiningTransferring in

Starting out

What you need to know about pensions, and how IMI can help you to save

Why save?

Support from IMI

You and IMI both pay towards your future, so it’s an easier way to save than with a normal savings account.

Comfort in retirement

When you finish working, it is good to know that you will be comfortable financially. Start now to make that dream a reality.

Security for your loved ones

Saving into the Retirement Savings Plan means that your family will have some security if the worst should happen to you.

What you will get

Your account builds up from contributions from you and IMI, and investment returns, so how much money you will have when you retire depends on:

  • how much you and IMI put in; and

  • how your investments perform.

How the RSP works

Keeping track

As a member of the RSP, you will receive a pension statement each year, which will give you an idea of how much your account will be worth at your Target Retirement Age (the age you are planning to retire).

You can use the on track calculator to get an idea of how much your savings could grow to by the time you retire.

On track calculator

It pays to start early

The younger you are when you start saving, the easier and cheaper it will be in the long run. The money you and IMI pay in is invested, and any investment returns are then re-invested. This means that the investment returns your account earns over a long period really help your retirement savings to grow.

Also bear in mind that the longer you contribute for, the more money you will build up, so working for longer is one way to build up more money.

When you want to take your retirement savings, you will have options about how you take them, which will also affect how much you will get. See Retirement options to read more.

Join the RSP

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