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When Can I Put Solar Bonds in an RRSP?

Sep 04, 2014

 

Like many Canadians, do you invest exclusively through RRSPs?

As you may know if you've been following our story, impact investing through a registered account has been a long and arduous path. Banks are set up to file investments within RRSPs using processes that exclude direct community bond investments. However, we've been working hard over the last three years to show the banks that impact investing is in demand, and it's time RRSPs should include options with social and environmental benefit, like Solar Bonds.

 We have identified one pathway through the trust company Concentra Financial, facilitated by the Canadian Workers Co-op Federation (CWCF). When the process is in place, you will be able to open a self-directed RRSP with any credit union that works with Concentra and purchase a Solar Bond within it.  We are now waiting for the final contract details between Concentra and CWCF (expected Oct).

Until then, we are happy to announce we've developed a package consisting of a completed legal opinion from KPMG and a letter to explainthe process of filing your Solar Bond into an RRSP or TFSA to any bank of your choice. Any financial institution can legally file a Solar Bond into a registered account and we are now waiting for our test case with one of Canada's major banks to be successfully completed before making this package public. Subscribe to our newsletter if you'd like to be the first to know when either pathway is in place. 

We thank you for your patience! We can't wait to let you know that we're ready for your RRSP money.