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An RRSP, or Registered Retirement Savings Plan, is a registered investment vehicle in Canada designed to help individuals save for their retirement. Contributions to the RRSP are tax-deductible, meaning that investors can reduce their taxable income by contributing to the plan. Funds invested in an RRSP can grow tax-sheltered until they are withdrawn during retirement. This makes it a popular tool for retirement savings while enjoying tax benefits.
An RRSP, or Registered Retirement Savings Plan, is a registered investment vehicle in Canada designed to help individuals save for their retirement. Contributions to the RRSP are tax-deductible, meaning that investors can reduce their taxable income by contributing to the plan. Funds invested in an RRSP can grow tax-sheltered until they are withdrawn during retirement. This makes it a popular tool for retirement savings while enjoying tax benefits.
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