Anyone with earned income and available contribution space.
Investment growth is not taxed until withdrawal.
Suitable for GICs, mutual funds, Segregated funds, ETFs, bonds, and equities.
Designed to support structured retirement savings.
Spousal RRSPs help balance retirement income between partners.
Funds taken out are added to your income.
Withholding tax applies to non-qualified withdrawals.
Savings are limited by government-set thresholds.
Withdrawn amounts generally cannot be re-contributed.
Anyone with earned income and available contribution space.
By December 31 of the year you reach age 71.
No, contributions are voluntary.
They are treated as taxable income in the year withdrawn.
Yes, programs such as the Home Buyers’ Plan and Lifelong Learning Plan.
A program allowing eligible buyers to use RRSP funds for a home purchase.
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Most standard investment products, including stocks, bonds, ETFs, and GICs.
Yes, unused room carries forward without expiry.
Penalties apply if contributions exceed allowable limits. 1% Each month
