What is a “Registered” plan, as in, what does “registered” specifically mean, in the context of an RRSP?
Registered retirement savings plan (RRSP) – a retirement savings plan that you establish, that we register, and to which you or your spouse or common-law partner contribute. Any income you earn in the RRSP is usually exempt from tax as long as the funds remain in the plan.
How do I find out my TFSA contribution room?
Your TFSA contribution room information can be found by using one of the following services:
- My Account.
- MyCRA.
- Represent a Client if you have an authorized representative.
- Tax Information Phone Service (TIPS) at 1-800-267-6999.
What are the different types of retirement plans in Canada?
Retirement savings products
- Registered Retirement Savings Plans ( RRSPs )
- Tax-Free Savings Accounts ( TFSAs )
- Registered Disability Savings Plans ( RDSPs )
- other personal savings and investment products, such as savings accounts and stocks or bonds.