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Registered Retirement Savings Plan Contribution
(redirected from RRSP Contribution)

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Registered Retirement Savings Plan Contribution
An amount of money that a worker places into a Registered Retirement Savings Plan at regular intervals. In Canada, an RRSP is an account into which a worker may make these contributions up to a certain limit throughout his/her working life, and from which he/she begins to take distributions following retirement. The contributions are tax deductible, and they are invested in securities, usually common stock and certificates of deposit.


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If the deceased has unused RRSP contribution room, a contribution can be made to a spousal plan for his or her spouse or common-law partner and deducted on the final tax return.
Deductible RRSP contributions can be used to reduce your income taxes.
You may be a high-income earner that has maxed-out your RRSP contribution room or you participate in a registered pension plan (RPP).
 
 
 
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