Retirement
RRSP
Defer tax today to prepare income for later.
Use
Reduce tax now, plan withdrawals later
An RRSP may reduce taxable income when you contribute. Tax is deferred until withdrawal, often in retirement.
It can be especially relevant when your current tax rate is higher than the rate you expect at withdrawal.
What it can do
- Prepare retirement income.
- Reduce tax payable in a higher-income year.
- Build savings discipline through automatic contributions.
- Participate in certain home ownership or education programs, depending on applicable rules.
Key point
The withdrawal matters as much as the contribution
A poorly planned RRSP can create tax later. We look at the contribution, but also withdrawals, expected income sources and the impact on your future budget.
Watch point
An RRSP withdrawal is generally taxable. Rules, contribution room and tax impacts must be validated according to your situation.
Want to review your RRSP?
We can confirm whether the RRSP, TFSA or a combination is more logical for you.