Registered Retirement Savings Plan 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.
References in periodicals archive ?
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.
One of those ideas was to allow people who could not afford to use their RRSP room to sell some of it to those who could afford to use it, allowing both people to increase their RRSP contributions.
BANKING AND CREDIT NEWS-January 16, 2015-BMO Financial: Most Canadians plan to RRSP contributions
M2 EQUITYBITES-January 16, 2015-BMO Financial: Most Canadians plan to RRSP contributions
RRSP contributions are not very glamorous, but there are major downsides to not making any.
The following is a summary of RRSP contributions by region:
Corps division's controversial use of funds from the commissionaires' RRSP contributions to rectify a $531,000 accounting error.
The Committee approved an annual allowance for each Member equal to half the dollar limit for RRSP contributions set under the federal Income Tax Act.
Spousal RRSP contributions are a long-term way of shifting future income to a spouse with the lower tax rate.
In the majority of situations the most effective way to attain financial security in retirement is additional RRSP contributions.
Now RRSP contributions exceed the total of employee and employer contributions to employer-provided pension plans.