What is an RRSP?

A Retirement Savings Plan (RRSP) is a tax-sheltered investment vehicle that provides you with an effective means of saving for retirement. Contributions to an RRSP result in a tax deduction, and the income earned in the plan compounds on a tax-deferred basis. Individuals with RRSP contribution room in Canada may contribute to an RRSP up to the end of the year in which the plan holder reaches age 71.

RRSP-eligible investment options include fixed-income securities, equities, mutual funds, private company shares, and more.