Registered Retirement Savings Plan (rrsp)

Definition of "Registered retirement savings plan (rrsp)"

Terri Doyle real estate agent
Terri Doyle CT Hometown Realty, LLC

Canadian retirement plan much like U.S. individual retirement account (IRA). Here, an employee can contribute on a tax deductible basis C $3500 each year as a member of an employer pension plan. A non-member employee can contribute C $5500 tax deductible. Earnings under this plan accumulate tax-deferred. RRSPs are issued by life insurance companies and trust companies.

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