RRSP
RRSP — save for retirement and reduce your taxes
RRSP contributions are generally tax-deductible, and growth is tax-deferred until you withdraw.
Who it’s for
Is this right for you?
- Employees and self-employed people paying income tax
- Families planning for retirement
- First-time home buyers using the Home Buyers’ Plan
How it works
- ContributeWithin your RRSP deduction limit.
- Save tax nowContributions reduce this year’s taxable income.
- RetireConvert to a RRIF or annuity for retirement income.
Key features
How it works
- Contributions reduce your taxable income
- Limit based on 18% of last year’s earned income, up to an annual maximum
- Home Buyers’ Plan and Lifelong Learning Plan options
- Must be converted (e.g. to a RRIF) by the end of the year you turn 71
Contribution limits and rules are set by the Government of Canada and can change. See the current details at canada.ca. This is general information, not tax advice.
Get started
Talk to an advisor
Tell us a little about what you need. A licensed advisor will compare options from several insurers and call you back — there is no cost for advice.
- Free, no-obligation quote
- Options from several insurers
- Clear explanation of benefits and exclusions