About Registered Retirement Savings Plan (RRSP)

It’s never too early to begin saving for retirement.

A Registered Retirement Savings Plan (RRSP) allows you to make tax-deferred contributions toward retirement savings. By deferring tax payment on the interest generated by the plan to a time in the future (like retirement), when you will likely be in a lower tax bracket, you can save money. What’s more, the money you contribute to your RRSP can be used to reduce earned income for tax purposes during your pre-retirement years

Key Benefits

A RRSP can be opened at any time, but must terminate in the year in which the owner reaches age 71.


As of 2005, the limits imposed on foreign content have been lifted. The total of your RRSP may now be invested in foreign content.

The yearly contribution deadline for the previous fiscal year is March 1(or February 29, on leap years).

Funds invested in an RRSP account lessens your taxable income for the year in which the contribution is made, thus reducing your overall tax payable.


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