Registered Retirement Savings Plan (RRSP)

RDSP
What is an RRSP? An RRSP or Registered Retirement Savings Plan is an investment plan registered with the government where you or your spouse can make financial contributions through RRSP-eligible investments, such as specific stocks and mutual funds or segregated funds. These investments are normally tax-deductible contributions and the income earned within the plan is exempt from tax until the owner receives payments from the plan. Funds are usually held in an RRSP until retirement at which time the contributions may be withdrawn or transferred to other investment plans. RRSP’s are ideal for;
  • individuals who do not belong to a pension plan;
  • individuals whose pension plans are inadequate;
  • individuals who want a higher retirement income than their pensions can provide.