Find out more about RRSPs

Do you have the right investments for the kind of retirement you want?

You might not. A Registered Retirement Savings Plan (RRSP) plan allows for tax-free savings during your working life, with a view to supplementing your retirement income.

Basic notions

• The amount invested in your RRSP every year is deducted from your taxable income, thus giving you a tax savings.
• In addition, your RRSP savings continue to grow tax-free.
• Upon your death, the plan can be transferred to your spouse without fiscal consequences.
• Your RRSP can be used to help you buy a home (HBP).
• It can also be used to go back to school (LLP).
• Your RRSP must be transferred to an RRIF (Registered Retirement Income Fund) no later than December 31 of the year you turn 71.

Contribution rules

• Anyone under 71 with income earned in Canada may, regardless of their place of residence, contribute to an RRSP.
• Annual contribution limit of 18% of income earned in the previous year.
• Maximum for 2012: $22,970
• Contributing to your employer’s retirement plan reduces the amount you can invest in your RRSP.
• You may contribute to your own RRSP or to your legal or common law spouse’s RRSP.
• If you do not use all of your contribution room for one year, you may carry the unused portion over to the following years.
• See the "RRSP Deduction Limit Statement" section of the notice of assessment sent to you each year by the Canada Revenue Agency.
• Excess contribution of $2,000 permitted.
• You may contribute to your RRSP until December 31 of the year you turn 71.

	Online	Fill out the form
	By phone	Montreal area: 514-CAISSES (514-224-7737) Elsewhere in Canada and the U.S.: 1-800-CAISSES (1-800-224-7737)
	At the caisse	Make an appointment with a caisse advisor: online by phone