Feller Financial Group - Registered Retirement Savings Plan

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A Registered Retirement Savings Plan or RRSP is a type of account for holding savings and investment assets. The RRSP's purpose is to promote savings for retirement. It must comply with a variety of restrictions stipulated in the Canadian Income Tax Act.

Rules determine maximum contributions, timing of contributions, claiming of contribution tax credits, assets allowed, and eventual conversion to a Registered Retirement Income Fund (RRIF) in retirement. Approved assets include savings accounts, guaranteed investment certificates (GICs), bonds, mortgage loans, mutual funds, income trusts, corporate shares (stocks), foreign currency and labour-sponsored funds.

Call Feller Financial Group to talk to an expert about providing an RRSP to your employees.