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Registered Retirement Savings Plan
(redirected from RRSPs)

   Also found in: Wikipedia 0.01 sec.
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.

registered retirement savings plan (RRSP)
A personal tax-sheltered retirement plan for Canadians that is similar to individual retirement accounts offered in the United States. Contributions may be deducted from taxable income, and earnings on contributions are exempt from taxation until withdrawals are made.


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Petrocapita is eligible for all registered plans including RRSPs and TFSAs.
I just wish we could have started contributing to RRSPs younger like they do today.
RRSPs can contain a variety of investments including: RRSP savings deposits, mutual funds, guaranteed investment certificates (GICs), treasury bills, and bonds.
 
 
 
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