Investments Overview 

why choose us

At Safeguard Insurance & Financial Services, we understand that the current economic climate is challenging for all businesses. We know that investment returns are important, but so is your financial security. After all, nobody wants to lose money. A solid foundation built on expert advice and support is the surest way to sustain and achieve growth for the future. Our service goes far beyond placing investments we will help assure your stability, profitability and growth. We will give you our undivided attention as we help you to identify, analyse and implement the path to your financial independence.

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Segregated Funds 


With Segregated Funds, you can reduce the effects of losses associated with market fluctuations because your principal when invested in a Segregated Fund has guarantees. The best part is they offer protection from creditors, perfect if you are approaching retirement or a small business owner.

Segregated funds are an excellent alternative to conventional mutual funds. Like their mutual fund counterparts, segregated portfolios offer a range of investment objectives and categories of securities including equities, bonds and balanced funds. However, segregated funds also come with some unique benefits.

The most attractive feature of segregated funds is their guarantee of principal up to 100%* at maturity and death. This makes segregated funds a more secure investment option than mutual funds or stocks.

contact us for more information on segregated funds



A Registered Retirement Savings Plan (RRSP) or Spousal RRSP is a registered investment/savings account designated for retirement savings. RRSPs are available to investors over the age of 18 (with income) and under the age of 71, When the owner of an RRSP reaches the age of 71, at which time the RRSP must be closed and usually the funds are transferred to a RRIF (Registered Retirement Income Fund) or Spousal RRIF.

There are many advantages to RRSPs but most financial services institutions don't tell you the negative. They are not for everyone and if not properly planned can hinder you financially in the short term and even in the long term. Even the type of investment you choose for your RRSP can be detrimental. With our Total Solutions approach let us custom tailor your plan to retirement.



Investments held inside a RRIF grow in a tax-deferred manner just as with a RRSP. There are two primary differences between a RRSP and a RRIF. The first is that no further contributions can be made once conversion to a RRIF has occurred. The other is a special functionality called a minimum RRIF withdrawal. A minimum RRIF withdrawal is an annual obligatory amount which is cashed out of a RRIF and sent to the account-holder without, withholding tax. The withdrawal remains taxable Canadian income, but is eligible for a $2,000 tax credit.

The minimum RRIF withdrawal each year is determined by a percentage depending on the holder's age and the total value of the plan on January 1 each year. The holder of a RRIF may elect to withdraw an amount greater than the minimum RRIF amount for that year, though withholding tax will apply to this supplementary amount. Funds must be transferred in from either an RRSP, Spousal RRSP or from a Group RRSP

Many investors find the transition from an RRSP to a RRIF confusing. We will be pleased to advise you on how RRIFs work, what regulations they are subject to, and what investment options you have within your RRIF account.  We are here to custom tailor a Total Solutions plan based on your goals and financial situation.

Locked In Retirement Account (LIRA) and Locked-in Retirement Savings Plan (LRSP) 


The distinction between a LIRA/LRSP and an RRSP is that, where RRSPs can be cashed in at any time, a LIRA/LRSP cannot. Instead, the investment held in the locked-in account is "locked-in" and cannot be removed until either retirement or a specified age outlined in the applicable pension legislation (though certain exceptions exist). Another important distinction between regular RRSPs and LIRAs/LRSPs is that once funds have been transferred from a company pension plan to a LIRA/LRSP, further contributions cannot be made into said LIRA/LRSP. Any monetary amounts earned in the LIRA/LRSP through investment are also considered to be locked-in.

At retirement, holders must convert their LIRAs/LRSPs into Life Income Funds (LIF) or Locked-In Retirement Income Funds (LRIF) which will provide pension income during retirement. Instead of converting to a LIF or LRIF, holders may opt to use the proceeds of their LIRA/LRSP to purchase a Life Annuitty through Safeguard Insurance & Financial Services LTD.

Life Income Fund (LIF) or Locked-in Retirement Income Fund (LRIF) Account 


When you reach the age of 71 (latest), you must transfer assets from your LRSP, LIRA, GRSP or employer-sponsored pension plan to a LIF or LRIF, depending on your provincial pension legislation.

The difference between the RRIF and the LIF/LRIF is that the RRIF is used for transferring individual RRSP assets and the LRIF/LIF is used for transferring GRSP or other employer sponsored pension assets. These assets may have been held in an LRSP or LIRA before being transferred.

Both the LIF and the LRIF require a prescribed mandatory minimum income withdrawal and an optional maximum income withdrawal each year. Conversion to an annuity is not mandatory for an LRIF.

You retain control over how your LRIF/LIF is invested, subject to specific restrictions under the Income Tax Act

Contact Us

SafeGuard Insurance &
Financial Services Ltd.
1522 Main St E. Unit 1
Hamilton On, L8K 1E8
Ph (905) 962-7797


Wayne Collins - Winona


Save with the Tax-Free Savings Account

The Tax-Free Savings Account (TFSA) is a flexible, registered, general-purpose savings vehicle that allows Canadians to earn tax-free investment income to more easily meet lifetime savings needs.

  • As of January 1, 2013, Canadian residents, age 18 and older, can contribute up to $5,500 annually to a TFSA. This is an increase from the annual contribution limit of $5,000 for 2009 through 2012 and reflects indexation to inflation.
  • Investment income earned in a TFSA is tax-free.
  • Withdrawals from a TFSA are tax-free.
  • Unused TFSA contribution room is carried forward and accumulates in future years.
  • Full amount of withdrawals can be put back into the TFSA in future years. Re-contributing in the same year may result in an over-contribution amount which would be subject to a penalty tax.
  • Choose from a wide range of investment options such as mutual funds, Guaranteed Investment Certificates (GICs) and bonds.
  • Contributions are not tax-deductible.
  • Neither income earned within a TFSA nor withdrawals from it affect eligibility for federal income-tested benefits and credits, such as Old Age Security, the Guaranteed Income Supplement, and the Canada Child Tax Benefit.
  • Funds can be given to a spouse or common-law partner for them to invest in their TFSA.
  • TFSA assets can generally be transferred to a spouse or common-law partner upon death.

Non-Registered Investments


A non-registered investment is a type of investment account that allows you to save money for the long term. Non-registered accounts only tax the capital gains realized inside the account at 50% of the account holder's top marginal tax rate. And unlike RRSPs, non-registered accounts have no contribution limits.

Many financial advisors recommend using non-registered account in conjunction with RRSPs. This allows the investors to invest the tax savings generated by the RRSP into the non-registered account. There are also some cases where the investor will benefit the most from using only a non-registered account. Financial analysis is often required in order to determine which type of account will provide the most benefit.



An annuity is the simplest retirement income option. In exchange for a sum of money, an annuity from any provider provides you with a stream of payments.

The income payments you receive are made up of interest and principal and are determined based on:

  • Your age (and in certain cases, your spouse's age), for life annuities
  • Current interest rates
  • The length of time the payments are guaranteed
  • The amount of money used to purchase the annuity

Select the life income option and you will enjoy a steady retirement income from your pension funds along with the security that you will never outlive your money. You won't have to worry about market fluctuations or other investment management decisions. You can relax while we do the work.


Your income payments are guaranteed by the issuer of the annuity regardless of the ongoing economic conditions. The issuing company manages the money used to purchase your annuity so you're not burdened with any investment decisions.


Your annuity payments will be taxed as income in the year that they are received, for registered funds. For non-registered funds, only a portion of each payment is taxed each year.



What is an RESP?

A Registered Education Savings Plan (RESP) is a smart way to maximize education savings. Tax-sheltered investment growth and eligibility for government grants can make a big contribution to your child's future.

A Tax Break on Savings

The money you contribute to an RESP is sheltered from tax. No income tax is paid on investment returns as long as money remains in the plan. That means investments compound and grow faster than when invested in a non-registered investment.

When money is withdrawn to pay for a child's education, the investment growth and government grant portions of withdrawals are taxable in the child's hands (but not the original contribution). Because the child will likely have a low tax rate while attending school, taxes should be minimal.

Take Advantage of Government Grants

The Canada Education Savings Grant (CESG) provides free government funds to help pay for your child's education. Through the CESG the federal government matches 20% of annual RESP contributions, to a maximum of $500 a year and $7,200 over a child's lifetime. Lower-income families may be eligible for additional CESG payments.

Contribute up to $50,000

Up to $50,000 can be contributed for each RESP beneficiary. Contributions can be through regular periodic payments or lump sum payments. There are no annual contribution restrictions.