RRSP
Reduce your taxable income today while building retirement savings that grow tax-deferred.
What Is an RRSP?
A Registered Retirement Savings Plan (RRSP) is a government-registered account that lets you save for retirement while reducing your taxable income. Contributions are tax-deductible and investment growth inside the plan is tax-deferred until withdrawal.
How It Works
- Contribution room: 18% of your previous year’s earned income, up to the annual CRA maximum (check your Notice of Assessment for your exact limit)
- Tax deduction: Contributions reduce your taxable income in the year you contribute
- Tax-deferred growth: Investments grow without being taxed annually — you pay tax only when you withdraw
- Conversion at 71: Must be converted to a RRIF or annuity by December 31 of the year you turn 71
What Can You Hold in an RRSP?
Segregated funds, mutual funds, GICs, bonds, stocks, and ETFs — depending on your investment plan and risk tolerance.
Maria specializes in segregated funds within RRSPs, which offer unique protections not available through bank-sold mutual funds (see Segregated Funds).
RRSP vs. TFSA
| Feature | RRSP | TFSA |
|---|---|---|
| Contribution tax deduction | Yes | No |
| Withdrawals taxed | Yes | No |
| Best for | Higher-income earners | Lower-income earners, flexibility |
| Contribution room | Income-based | Fixed annual amount |
Book a consultation to determine the right contribution strategy for your income level and retirement timeline.
Why choose an independent broker in Calgary for RRSP?
As an independent broker based in Calgary, Maria Chekmareva works for you—not the financial institutions. By comparing RRSP options from over 15 top Canadian providers, we ensure you get a savings strategy tailored to your specific financial goals, all at no extra cost to you.
Ready to explore RRSP options?
Maria offers free, no-obligation consultations to help you build the right savings strategy.