Registered Retirement Savings Plan

(redirected from RRSPs)

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.
References in periodicals archive ?
Founded in 1892, iA Financial Group offers life and health insurance products, mutual and segregated funds, savings and retirement plans, RRSPs, securities, auto and home insurance, mortgages and car loans and other financial products and services for both individuals and groups.
The survey also found that Canadians are curbing their investments in fixed income, Exchange Traded Funds, and mutual funds (all down 4 per cent from six month previous), while they continue to pour money into their homes and RRSPs.
Through this new platform, precious metals dealers and advisors facilitate account solutions for their clients utilizing funds in their RRSPs and Tax Free Savings Accounts to purchase Royal Canadian Mint bullion coins and London Bullion Market Association (LBMA) brand bars.
Blue Heron employees can invest in RRSPs, through the company's matching program.
The latter changes would, as with RRSPs, create a 14month receipt eligibility period for each calendar year.
Most don't bother with banks, RRSPs or Air Miles MasterCards.
As a result, current legislation exempts RRSPs and other products purchased from insurance companies, while other (i.
The indicators of the current economic crisis include limited availability of credits from financial institutions, vaporization of contributions made to RRSPs and RESPs, closures of manufacturing plants, massive lay-offs; and wage/benefit concessions by unionized employees.
However, among the wealthiest households, RRSPs were the most important wealth component.
Financial charge relating to financial RRSPs (12) (12) (13) (13) (26) (26)