RRSP

A Registered Retirement Savings Plan (RRSP) plan allows for tax-free savings during your working life, with a view to supplementing your retirement income.


  • The amount invested in your RRSP every year is deducted from your taxable income, thus giving you a tax savings.

  • In addition, your RRSP savings continue to grow tax-free.
  • Upon your death, the plan can be transferred to your spouse without fiscal consequences.

  • Your RRSP can be used to help you buy a home (HBP).
  • It can also be used to go back to school (LLP).
  • Your RRSP must be transferred to an RRIF (Registered Retirement Income Fund) no later than December 31 of the year you turn 71.