Registered retirement savings plan (RRSP)
Registered retirement savings plan (RRSP)
Grow money tax-free for your retirement and long-term goals
Contribute online - - to an RRSP. This link will open in a new window.
What's an RRSP?
An RRSP or registered retirement savings plan is a type of savings account that lets you defer taxes when you save towards retirement. You can deduct RRSP contributions to decrease your taxable income, which means more cash in your pockets for the future.
Reasons to open an RRSP
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Plan for retirement
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Buy your first home
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Finance a return to school
RRSP advantages
Less taxable income
The money you save in an RRSP is deductible, which means you can decrease your taxable income and, if applicable, potentially maximize certain government benefits.
Tax-sheltered earnings
Your investment income is not taxed until you make withdrawals.
Cumulative contributions
If you don't reach your limit, your unused contribution room is carried forward to the next year.
You can contribute to your spouse's RRSP
When you contribute to your spouse's RRSP, you benefit from the tax deduction, even if you aren't the beneficiary.
When is the RRSP contribution deadline?
The deadline to contribute to your RRSP for the 2022 tax year is March 1, 2023. If you make contributions after this date, you can claim the deductions on your 2023 tax return.
What is the RRSP contribution limit?
Refer to your latest Notice of Assessment received from the Canada Revenue Agency to know your contribution limit. It's the maximum amount you can contribute to your RRSP without penalty for the current year.
Your contribution limit includes:
- Unused contribution room since 1991
- Your annual contribution limit (18% of the previous year's earned income up to a maximum of $29,210 for 2022 and up to $30,780 for 2023)note note
How to open an RRSP
Open an account
Log in to AccèsD to open an RRSP and start contributing. It's quick and easy!
Contribute online - online. This link will open in a new window.Or call us
Montreal area:
514-CAISSES This link will launch your default phone software.
Elsewhere in Canada:
1-800-CAISSES This link will launch your default phone software.
Choose your investments
Add investments to your RRSP and watch your money grow.
Your advisor can help you make informed decisions suited to your goals, risk tolerance, investment profile and target retirement age.
Set up automatic transfers
Automatic transfers let you schedule how often you contribute and how much. A great way to save all year long.
RRSP and TFSA investments
Responsible investment (RI)
To commit to a sustainable and equitable economy, invest in businesses that value the environment, the community and diversity. With our socially responsible investments, you can benefit from attractive potential returns while taking action for the future.
How to put your RRSP to work
Plan your retirement
Personal savings may well be your biggest source of retirement income. Aim to save 10% of your net annual income and invest it to grow your retirement nest egg.
Buy your first home
The Home Buyers' Plan (HBP) makes buying your first home easier. It allows you to withdraw up to $35,000 from your RRSP tax-free.
Go back to school
You can withdraw up to $20,000 from your RRSP to fund a return to school with the Lifelong Learning Plan (LLP).
Start saving now
Go to AccèsD to make a quick contribution and set up automatic transfers.
Contribute online - to an RRSP. This link will open in a new window.Other tax-free savings options
RRSP or TFSA: Which one to choose?
See the benefits of these 2 products and find out which one best meets your needs.
FAQ – Registered retirement savings plan (RRSP)
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- Contributions to an employer-sponsored pension plan can lower your contribution limit.
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