What’s so great about RRSPs?
RRSPs are government approved tax deferred savings plans that provide private funds for retirement. Contributions to RRSPs are tax deductible, within limits, thereby reducing your taxable income. As well, the earnings in an RRSP are not taxed until you withdraw them. The growth of your RRSP increases rapidly because 100% of these earnings can be reinvested and compounded.
