RRSP

How it works:

• Any Canadian who is employed and files taxes can contribute to an RRSP.
• There is no minimum age to contribute.
• Contribute until December 31 of the year that you turn 71.
• Spousal and individual plans are available.
• Contribute up to a set maximum every year.
• You receive a tax receipt for contributions to reduce you taxable income.
• Income from an RRSP is taxable only when withdrawn.
• Your unused annual contribution rolls over for use in future years.

Choose to invest your money in savings accounts, guaranteed investment certificates (GICs), mutual funds* or other securities such as stocks*, bonds* and ETFs*.