A Registered Retirement Savings Plan, or RRSP, is a special type of investment account designed to help Canadians save for retirement. The main advantage of an RRSP account, as compared to a regular investment account, is the tax benefits it offers.
The contributions made to an RRSP - which can be made up to a certain limit - are tax free and that the money within an RRSP can compound without you having to pay taxes on the gains .
Here are some other ways to fund your RRSP
You can set up a PAC plan to automatically withdraw as little as $25 or more each month from your chequing or savings account.
Benefits of setting up a PAC plan:
Let me help you with your RRSP investment. Please call for a free no-obligation conversation at 416 930 4246.
Savings for retirement