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.
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