Registered Retirement Savings Plan Contribution

(redirected from RRSP Contributions)

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
"Receiving a tax refund as a result of RRSP contributions is always a welcome bonus to one's cash flow.
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. At the time of Koza's original piece, there was circa $600 billion in unused RRSP space.
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
The following is a summary of RRSP contributions by region:
The majority of funds for down payments from Generation Y homebuyers (an average of 67 per cent) will come from a combination of savings, RRSP contributions and gifts from family.
Alas, this does not deter right-wing advocates of "fixing" the pension system through strategies such as expanding RRSP contributions an approach which in any case leaves retirees at the mercy of potentially volatile markets.
Under the RRSP rules, those who work up to the age of 69 can continue to make RRSP contributions. At the end of the calendar year in which an individual turns 69, he or she must collapse the RRSP.
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. For Status Indians, higher interest rates can be obtained by investing in registered funds.