Registered Retirement Savings Plan (rrsp)


Definition of "Registered retirement savings plan (rrsp)"

Maria Rendon real estate agent
Maria Rendon, Real Estate Agent Century 21 Judge Fite Company

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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