Registered Savings Plans
DICO automatically insures Canadian deposits in each eligible registered savings plan or contract. Registered savings plans include registered retirement savings plans (RRSP), registered retirement income funds (RRIF) and registered education savings plans (RESP).
What's covered?
Deposits held in registered savings plans or contracts that are eligible include savings accounts and term deposits or GICs. To be insured, deposits must be held in Canadian dollars at a DICO insured institution.
How much is covered?
Deposits held in registered plans or contracts are separately insured from other deposits.
DICO insures all eligible deposits held in each registered savings plan or contract at a DICO insured institution. The combined money you have in eligible registered savings plans or contracts is automatically covered in full.
DICO also provides separate insurance for deposits held in one name, jointly in more than one name, in a trust account and in registered savings plans.