Registered Retirement Savings Plan (rrsp)

Definition of "Registered retirement savings plan (rrsp)"

Yakov Hershkowitz real estate agent

Written by

Yakov Hershkowitzelite badge icon

MDL Real Estate

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.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Search engine site that emphasizes the fields of environmental risk management, environmental engineering, environmental planning, physical and biological sciences, and various ...

Circumstance resulting when government expenditures exceed government income. To finance this difference, the United States Treasury will auction Treasury bills, notes, and bonds. In order ...

Condition of real or personal property when it is damaged or destroyed to such an extent that it cannot be rebuilt or repaired to equal its condition prior to the loss. ...

Clause, generally found in business interruption insurance, that establishes the same indemnification basis as the coinsurance clause. ...

Payment of insurance proceeds for a claim resulting from a loss to insured mortgaged property. ...

Coverage when business records are destroyed by an insured peril and the business cannot collect money owed. The policy covers these uncollectible sums plus the expense of record ...

Important means of preventing accidents and injuries. Insurers take corporate safety programs into account when rating workers compensation and other business insurance policies. ...

Structure separating parts of a building in order to contain the spread of fire. Fire walls reduce the severity of a potential fire and lower premium rates. ...

Same as term Commingled Trust Fund: pooling of assets of two or more pension funds under common portfolio management. ...

Popular Insurance Questions