The Government of Canada has
in Budget 2018 to modernize and enhance CDIC deposit protection. These changes would take effect after they are approved by Parliament. Until then, the current coverage rules apply. We will update our website at such time as changes take effect.
You’ve worked hard to save for your retirement. It’s a fact that Canadians are now living longer than ever, and that retirement can last just as long as your work life. Many retirees convert their assets into a stream of income, and they want to be sure their money is protected.
Furthermore, Canadians need to plan for the financial implications of life events that occur as we age. Illnesses, family emergencies and financial scams are just some of the unexpected interruptions we may face in retirement. But one thing that you can always count on is CDIC deposit protection.
Enjoy your retirement knowing that CDIC protects
eligible deposits in RRIFs the same way as RRSPs. And you will still have protection of eligible TFSAs and day‑to‑day personal deposits, like those in chequing accounts, savings accounts or GICs.
Have a look through the following online resources to help.