Registered Retirement Savings Plan

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Registered Retirement Savings Plan (RRSP)

Tax-sheltered retirement plan for Canadian citizens, much like an American IRA.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
For the first time, the poll found more Canadians have TFSAs than RRSPs (Registered Retirement Savings Plans), by 57% compared to 52%.
In addition, the limit that homebuyers can draw from their Registered Retirement Savings Plans has been increased by $10,000 to $35,000.
In 2014, for instance, the value of savings outside of financial assets such as registered retirement savings plans (RRSP) and pensions was $7.7 trillion (after deducting debt).
Many Canadians have accumulated tax-deferred savings in Registered Retirement Income Funds (RRIF) and Registered Retirement Savings Plans (RRSP).
However, 14 per cent of Canadians say they are investing less in registered retirement savings plans (RRSPs) and 12 per cent are putting less into tax-free savings accounts (TFSAs).
This item explains the evolution of the IRS reporting requirements for Canadian registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs).
These are of two kinds: Registered retirement savings plans (RRSP) which are treated the same for tax purposes as the DB or DC plans and a plan introduced in 2009 called Tax-Free Savings Accounts (TFSA) where there is no tax deduction for contribution to the plan but neither investment income while in the plan nor the withdrawals from the account are subject to income tax.
TORONTO: CIBC (TSX:CM) (NYSE: CM CIBC) -- Beware of the do's and don'ts around Registered Retirement Savings Plans (RRSPs) if you're planning to make a contribution or an early withdrawal, says Jamie Golombek, Managing Director, Tax & Estate Planning, CIBC Wealth Advisory Services.
(Note that Group Registered Retirement Savings Plans and Deferred Profit Sharing Plans are not considered comparable plans for this purpose.)
Oikocredit Canada has announced that, for the first time, people in Ontario can invest in microfinance projects in developing countries as a part of their registered retirement savings plans.
Under the change, the IRS said that Americans with Canadian registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs) now automatically qualify for tax deferral similar to that available to participants in U.S.

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