CEIRP keeps growing which means we can all enjoy lower investment management fees!
When the plan started in 2004, fees were 1.1%. After six reductions, the fees will now be reduced by .5% to .48% — a 56.4% reduction since our inception.
This change applies immediately to the RRSP, NRSP, TFSA and the RRIF/LIF.
What does this mean for you?
Paying lower fees on your investments will increase your overall savings.
The images below illustrates how CEIRP’s Low Fees increase member savings compared to the average Canadian Mutual Fund Fees.
Note: Average fee shown are investment management fees and exclude other expenses. A 4% rate of return, compounded annually was used for calculation purposes.