FAQ Retirement Savings Protection Plan (RSPP)

• The Retirement Savings Protection Plan (“RSPP”) is a financial product which provides you with a Vacation Loan Principal Repayment in twenty years’ time. Provided that all required interest payments are made on your Vacation Loan, SeaPort will pay you an amount equal to the principal outstanding on your Vacation Loan. This allows full repayment of your Vacation Loan while preserving your retirement funds.

• Peace of mind that your Vacation Loan will be fully repaid
• Cash in your RRSP when the SeaPort Trust Units are redeemed at full value.
• The cash in your RRSP will provide funds for a worry free retirement.
• In the event of your death or disability, the benefit of Vacation Loan Principal Repayment passes to your beneficiaries

• We strongly recommend that all Members purchase the RSPP while at their Resort. If you do not purchase the RSPP, then you will be required to make monthly payments of both principal and interest on your Vacation Loan, based upon a 20 year amortization.

• When you complete the purchase of your Vacation Membership at your Resort, you will be sent a package confirming the amount of your Loan Principal Repayment. You will receive a signed certificate which should be kept in a safe place for the duration of your Vacation Loan.

• When you purchase a RSPP, you defer making monthly payments of principal on your Vacation Loan. All of your principal payments are deferred to a time when they can be fully repaid by the Vacation Loan Principal Repayment.

• Your RSPP must remain in good standing for the full term of your Vacation Membership. This ensures that your and your family will continue to enjoy vacation benefits for the full duration of your Vacation Loan and will allow the Vacation Interest Repayment to be made.

• The RSPP is available to all Canadians who purchase a Vacation Membership from one of our partner Vacation Clubs in Mexico or the Caribbean.