Registered Retirement Savings Plan

RRSP

Tax-Advantaged Retirement

Understanding your RRSP

A Registered Retirement Savings Plan (RRSP) is a government-approved plan that helps you save for your future while reducing your current tax bill. Contributions are tax-deductible, and your savings grow tax-sheltered until withdrawal.

Best Suited For

High income earners looking to reduce taxes

Canadians planning for retirement

First-time home buyers saving for a down payment

Couples wanting to split income in retirement

At a Glance

Tax StatusTax-Deferred

Contribution Limit18% of earned income

Withdrawal AgeConvert by 71

Primary UseRetirement

Why choose a RRSP?

Key advantages designed to help you reach your goals faster.

Tax Deductions

Every dollar you contribute reduces your taxable income for the year, potentially triggering a tax refund.

Tax-Deferred Growth

Your investments grow without being taxed annually. You only pay tax when you withdraw the funds in retirement.

Spousal Plans

Contribute to a Spousal RRSP to balance retirement income and lower your combined tax burden in the future.

Account Rules & Features

Everything you need to know about how your RRSP works.

Contribution limit based on 18% of your earned income to a max

Unused contribution room carries forward indefinitely

Funds can be used for buying a first home (HBP) or education (LLP)

Funds are taxable upon withdrawal (unless HBP/LLP)

Need help deciding?

Our financial advisors can help you determine the best investment strategy for your unique situation.