As an employed apprentice, you will earn while you learn. Based on your situation and expenses, your income might allow you to save and build wealth, supporting your apprenticeship or funding future goals.

This page highlights types of investments to encourage people to save for their future.


Registered Retirement Savings Plan (RRSP)

An RRSP is a tax-effective investment intended to save for you retirement. It can also be utilized to help provide funds towards future qualifying withdrawals.

For further information, click here.

Tax Free Savings Account (TFSA)

A TFSA are contributions made from after-tax income. Any investments made within a TFSA are tax-free.

For further information, click here.

Registered Education Savings Plan (RESP)

Apprentices will need to provide the required documentation to support the RESP withdrawal request. Please talk to your RESP promoter for full details.

Source: https://www.canada.ca/en/services/benefits/education/education-savings/paying-education.html

For further information, click here.

This Employment Ontario Program is funded in part by the Government of Canada and the Government of Ontario.