The Investor Education Fund has added new information and two new calculators to its Web site to assist investors with their RRSP decisions this year.

The new Sheltered Investment Calculator shows the dramatic effects of compounding returns inside an RRSP. By comparing the growth of a single contribution inside and outside of an RRSP, investors can see the impact of saving through an RRSP and also the additional growth that could be generated if the resulting tax refund was also invested.

The new RRSP Savings Calculator helps investors plan how much they need to save to reach a desired retirement income. They can find out how high their RRSP savings could potentially grow, but also how much annual income that total RRSP savings amount could provide if it was converted to an annual income.

“The decisions people make about their retirement savings plans can have a dramatic impact on their bottom-line. These new interactive tools will help investors understand how the choices they make now can affect their retirement income in the future,” says Terri Williams, president of the Investor Education Fund.

In addition to the calculators, the Web site also contains new information about self-directed RRSPs and spousal RRSPs, and offers new tips on strategies to get the most out of an RRSP.

The calculators and information can be found in the Focus On…Saving for your Retirement feature on the Web site at www.investorED.ca.