Self-Directed RRSP

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Self-Directed RRSP

In Canada, registered retirement savings plan (RRSP) in which the account holder has a great deal of control over the investments made on the account. That is, either the account holder or a designated representative has the ability to make investments off of the contributions made to the account. However, investments not ordinarily permitted on an RRSP are still not permitted on a self-directed RRSP. The individual account holder must ensure that investment conforms to this rule, or risk losing the tax deductible nature of contributions.
References in periodicals archive ?
Second, there are self-directed plans that allow contributors to choose investments for themselves with qualified investments similar to self-directed RRSPs.
For example, soon customers will be able to examine all accounts -- self-directed RRSPs, mutual funds, and life insurance -- on the screen.
Self-directed RRSPs are investments by the individual that are qualified as being eligible as RRSP investments.
The Dealer Trustee Services Department provides intermediary services to financial planners, as the trustee for self-directed RRSPs, RRIFs and loan products.
fees related to self-directed RRSPs and assets under management; with the NAT and TPR acquisitions, these fees generate annual income of the order of $13 million compared to $4 million in 1995;
In addition, fees related to self-directed RRSPs and assets under management have been generating annual income in the neighborhood of $10 million since the North American Trust acquisition, compared to just $4 million in 1995.
For instance, Laurentian Bank now becomes one of the biggest managers of Self-Directed RRSPs in the country.