What is a RRSP?

An RRSP is an individual retirement plan that has been registered with Canada Customs and Revenue Agency. Introduced in 1957, the Registered Retirement Savings Plan was the government's attempt to close the gap between those with employer-sponsored pension plans and the self-employed as well as others working at businesses too small for plans of their own. It is one of the most popular vehicles available to defer tax and save for retirement years. An RRSP is important for an individual because annual contributions are tax deductible up to allowable limits and income earned in the plan accumulates tax-free as long as it remains in the plan.


We can help

Tony Lau Insurance offers a broad spectrum of professionally managed segregated funds including foreign, domestic and specialty funds, as well as an extensive family of 100% RRSP eligible funds and GICs. To learn more, contact us.