RRSP

As a Canadian citizen, RRSP incentives have been made available to you to enable anyone who wants to save and plan for retirement.

Are you looking for smart ways to save money for your retirement?

 

Are you looking for a reliable financial organization that cares about your future and financial security?

Registered Retirement Saving Plans are tax deferral plans that allow Canadians to save a percentage of their income into an investment account as a retirement financial plan. Tax is faithfully paid on all the money saved to RSSP until the withdrawal period.

All contributions that are made to the RRSP are tax-deferred and tax rates are at the lowest when RRSP is withdrawn at a later date. This makes it the best solution to save retirement financial support. Any money paid to the RRSP up to the annual limit reduces the rate of tax payable. RRSP has the freedom to hold a variety of investments.

The money that has been saved in the RRSP can be invested in a number of ways that include:

• Mutual funds
• GICs
• Term deposits
• Stocks
• Bonds
• Mortgages

• The interest paid on money that you borrowed to contribute to RRSP.
• Administration fee for the RRSP services.
• Brokerage fee charged to buy or get rid of securities within the RRSP package.
• Capital losses within your RRSP.

• Annual income
• Amount of tax paid each year
• Amount of tax payable on the loan

• Reduction of income tax payable.
• Availability of tax-sheltered investments.
• Availability of retirement funds or low-income periods.
• Allows the benefit of split retirement income.

RRSP is best suited for anyone who wants to invest for retirement, investing in retirement, and making over $90,000 a year, investing in a home or education.