Registered Retirement Savings Plan

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 your having to pay taxes on the gains . 
Here are some other ways to fund your RRSP

  • Transfer from savings 
  • Pre-authorised Contribution plan (PAC) for your RRSP
  • RRSP Loan 

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:

  • Earn tax sheltered returns
  • Compound your interest with monthly contributions
  • Enjoy peace of mind by investing in your RRSP throughout the year – avoiding the last minute scramble
  • Customize a convenient and flexible plan that fits your budget and savings goal. 

Let me help you with your RRSP investment. Please call for a free no-obligation conversation at 416 930 4246.