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Invest through an RRSP or TFSA

Investing through RRSP or TFSA is available to members when there is an open share offering for investments, or for individuals who have already purchased shares and would like to move them over to a RRSP or TFSA.  The information on this page will help you decide if investing through a self-directed RRSP or TFSA account is right for you.  Please do not hesitate to contact us if you have any questions.

There are two ways to invest in OREC shares under a self-directed RRSP or TFSA; a) as new contributions or b) as a transfer in from an existing RRSP or TFSA.

The Canadian Worker Co-operative Federation (CWCF) will manage your self-directed RRSP or TFSA account. They are registered with the Canadian Revenue Agency.  Contact Josh Dyke (coordinates below) if you have questions about the services they provide.

The CWCF charges an annual fee of $55 and a withdrawal fee of $75. When a withdrawal is made, CWCF will mail you a cheque for the amount requested less the $75 withdrawal fee.  To make a withdrawal, you will need to send written instructions to:

Josh Dyke, RRSP Program Manager at CWCF
1-41 Aberdeen St.
Kentville, NS B4N 2M9
Tel: (902) 678-1683
Email: josh@canadianworker.coop

The annual $55 fee, due in December, is charged to OREC.  OREC will pay the CWCF fee and then deduct the cost from investors’ annual dividend. OREC will pay dividends into the investor’s RRSP and/or TSFA account. Investors will be able to direct dividends towards new OREC share purchases during subsequent securities offerings.

Note that the CWCF does not have a RRIF program. After an investor turn 71 years old, OREC shares must be withdrawn from the self-directed RRSP or TFSA and either sold to another member or declared as income at their current value. Any cash accumulated from dividends and return of capital may first be transferred to a RRIF operated by another institution.

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