RRSP


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Related to RRSP: RRIF

Registered Retirement Savings Plan (RRSP)

Tax-sheltered retirement plan for Canadian citizens, much like an American IRA.

Registered Retirement Savings Plan

In Canada, an account into which a worker makes contributions up to a certain limit throughout his/her working life, and from which he/she begins to take distributions following retirement. A registered retirement savings plan allows for tax deductible contributions and taxable distributions; that is, contributions are tax-deferred until retirement. Registered retirement savings plans may be invested in securities and usually own common stock and certificates of deposit. It is the Canadian equivalent of an IRA.

RRSP

References in periodicals archive ?
The first thing Kraemer encouraged him to do was to invest more in the spousal RRSP, thus sheltering more earned interest from taxation.
Individuals' combined PRPP contributions and RRSP contributions will be subject to the current annual RRSP limit of 18 per cent of the previous year's earned income, up to a maximum of $22,970 for 2012.
However, unlike the United States, where the Treasury imposes penalties on taxpayers withdrawing funds prior to retirement, the Canadian system permits individuals to access their RRSP savings at any time.
The cap on RRSP contributions rises with the limit on DC plan contributions, but with a one-year lag: the 2017 cap on RRSP contributions is $26,010.
resident and has an RRSP and/or RRIF but has never included any income on a Form 1040 from it is deemed to have made the election.
Many of Capstone's existing investors simply re-allocated existing RRSP funds to diversify their portfolios and take advantage of this hassle free way to invest in Phoenix real estate.
According to figures released by Bank of Montreal (NYSE: BMO) (BMO), Canadians have been saving more in RRSPs.
To date MHI has been in a cooperative relationship with Rolls-Royce through joint involvement in the V2500 engine program, and as an RRSP it has participated in Rolls-Royce's program to develop the Trent 1000, an engine earmarked for the Boeing 787 Dreamliner.
There are also safeguards to the assets of a debtor under the new changes with respect to retirement savings, called an RRSP or Registered Retirement Savings Plan in Canada.
Choose a plan provider that can offer you a choice of different pooled and custom plans to choose from that include: medical, dental, short term disability, long term disability, RRSP Plan, basic group life insurance, optional group life insurance, employee assistance plan (EAP), group home and auto; directors and officers liability/professional and general liability/contents insurance.
You can put money into your RRSP, contribute to a spousal RRSP or set aside funds for your children's education in a Registered Education Savings Plan," says Woodstock Chartered Accountant Bob Dieleman.