Registered Retirement Savings Plan (RRSP)
Registered Retirement Savings Plan in Brampton
A retirement plan is an investment plan that will help you save your earnings over a period of time and provides you with steady income after your retirement. A Registered Retirement Savings Plan is an ideal retirement plan for both employees and self-employed individuals. The amount is funded by employees and contributions made by the employer. This amount remains tax-free until its withdrawal. You can rely on us to help you and guide you regarding all aspects of the Retirement Savings Plan. For more information about our services, please get in touch with our experts now. We will be happy to help you with all your needs.
Helping you secure your future
A Registered Retirement Savings Plan (RRSP) is an account that is registered with the federal government. This account can be used to save for your retirement. The growth of your Registered Retirement Savings Plan is determined by its contents. This account helps you retire comfortably. The investments will not be taxed, as long as the funds are not withdrawn.
Benefits of investing in a Registered Retirement Savings Plans
- The income earned in your Registered Retirement Savings Plan is not taxed until you withdraw the amount. This tax-free compounding enables your savings to grow faster.
- The RRSP enables you to get regular income when you retire. The Registered Retirement Savings Plan can be transferred to your RRIF or an annuity when you retire. This allows you get a stipulated amount of money every month. Please note that you will have to pay tax on the regular payments you receive each year.
- You can also invest in a spousal RRSP. This can help you reduce your combined tax burden. You can help build savings by contributing to a spousal RRSP. The amount received during retirement will be split more equally between the two of you.
- The Registered Retirement Savings Plans also allows you to borrow from your RRSP account to buy a home or can use it for your child’s education by taking a loan on it
Approved assets
The RRSP permits you to have several types of investment and investment accounts including mutual funds, exchange-traded funds, bonds, savings accounts, mortgage loans, guaranteed investment certificates and foreign currency. For more details, please get in touch with our experts now.
If you wish to have a financially safe and secure retirement, investing in a Registered Retirement Savings Plan can be the ideal solution. Call us now.