Better understand RRSPs

The Registered Retirement Savings Plan, commonly called RRSP, is a way to save now to supplement your retirement income later.

It offers you 2 tax advantages:

• Your contributions are deducted from your taxable income.
• The return on your investment is entirely reinvested into your tax-sheltered plan.

Basic RRSP rules

How much can you contribute?	Your RRSP contributions should not exceed a certain percentage of your income.
What are the types of RRSPs?	There are 4 types of RRSPs: individual RRSP, spousal RRSP, group RRSP and self-directed RRSP.
Which investment methods are available?	There are 2 ways to invest: through regular instalments made at your own pace, and cash, at your convenience.

RRSPs are not only for your retirement

They can be used:

• to buy your 1^st property with the Home Buyers' Plan (HBP);
• to pay your return to school with the Lifelong Learning Plan (LLP);
• as a source of revenue in the event of a period of unemployment or parental leave.

	Online	The RRSP Guide (PDF, 746 KB) will help you start planning for your retirement now.
	Online	About to retire or already retired? See the Retirement Product Guide (PDF, 473 KB).
	At the caisse	Contact an advisor at a caisse.