iAtoday

We are proud to be one of the first insurers to offer, starting now, the group First Home Savings Account (FHSA).

The FHSA is an additional tool to help people build up a down payment on a first home while benefitting from attractive tax advantages.

A unique offer for our clients

Eligible plan members can enjoy the same benefits as those offered under their organization’s other group plans, including:

• Source deductions providing immediate tax savings
• Possible access to the same investment options and management fees as those available in the other registered plans offered by their sponsor
• Access to all our digital tools, including My Client Space and iA Mobile, to keep track of their savings

With the group FHSA, plan sponsors can contribute to the total wellbeing of their members by offering them an additional savings vehicle to help them achieve their goal.

Key elements of the FHSA

• Eligible individuals can contribute up to $8,000 per year, for a lifetime maximum of $40,000, toward the purchase of a qualifying home.
• Contributions are tax deductible, and investment income and withdrawals used to purchase a qualifying home are tax free.
• Withdrawals do not have to be repaid, unlike those made under the Home Buyers’ Plan (HBP).
• The FHSA combines the advantages of the registered retirement savings plan (RRSP) and the tax-free savings account (TFSA).

For more information, refer to the group FHSA brochure.

We support plan members by contributing to their financial literacy

Articles about the group FHSA are available to members on our education website: 

• FHSAs in 10 questions presents the product’s distinctive features.
• RRSP-TFSA-FHSA: Which should you choose? discusses the advantages of each savings vehicle and helps them choose where to save.

We constantly strive to provide members with the tools they need to make informed decisions about their finances.

Don’t hesitate to contact your Account Executive to discover the advantages of the group FHSA for your clients.