15 June 2022 6:50

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:

  1. My Account.
  2. MyCRA.
  3. Represent a Client if you have an authorized representative.
  4. 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.