RRSPs are registered retirement savings and investment plans that can be utilized by self-employed workers, as well as employees to get immediate tax break .They are taxed at a marginal rate upon withdrawal, but until then, the investment grows tax deferred. In addition, Contributors can access Registered Retirement Savings Plan (RRSP) funds tax free when they buy their first home or pursue qualified educational program. Because of the tax sheltered growth potential until withdrawn it is an investment vehicle of choice amongst working Canadians.
Registered Retirement Savings Plan (RRSP) offer individuals a series of product choices to invest their money into. Such products include, but are not limited to: