A Canadian retirement savings plan (RSP) and a registered retirement savings plan (RRSP) both refer to the same thing. Both acronyms can be used interchangeably. Some people use RSP for an individual RRSP (similar to anIRAin the U.S.) and RRSP for group or pooled plans. However, this d...
Employers with Quebec-based employees can get a simple, affordable workplace savings plan with a Manulife Voluntary Retirement Savings Plan (VRSP).
8. Cash-value life insurance plan Some companies offercash-value life life insurance plansas a benefit. There arevarious types: whole life, variable life, universal life and variable universal life. They provide a death benefit while at the same time building cash value, which could support you...
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Open a Registered Retirement Savings Plan (RRSP) at RBC Royal Bank and start enjoying all the tax benefits that RRSPs have to offer.
Expand your investing horizons with a self-directed Registered Retirement Savings Plan (RSP) from TD Direct Investing. Open an account online today.
The two types also have different rules regarding contribution limits. Traditional IRAs If neither you nor your spouse has a retirement plan at work, you can deduct your entire contribution from a traditional IRA. If one of you is covered by a retirement plan, your contribution may be at leas...
7.What types of long-term savings plans or investments do you have in place outside your CPF and SRS? A. None B. A term deposit or savings account C. A diversified investment portfolio Expert tip!Diversificationis key to building a strong investment portfolio. A diversified portfolio comprises...
Registered Retirement Savings Plan (RRSP) Invest in tomorrow, while saving on your taxes Benefits of RRSPs Tax deductions Contributions can reduce your taxable income, lowering the tax you pay. Tax deferral Your investments can grow, tax-deferred, while in the RRSP. ...