Registered Retirement Saving Plan (RRSP)

A Registered Retirement Savings Plan (RRSP) is a plan that is registered with the Federal Government, in which an individual or spouse/common law partner can contribute until the year the plan holder turns 71.

Any income you earn in the RRSP is usually exempt from tax as long as the funds remain in the plan; you generally have to pay tax when you receive payments from the plan.

Registered Retirement Savings Plans (RRSPs) have tax advantages that include:

1. Non-taxable earnings: Any interest you accrue is not taxable, providing it stays in the RRSP.
2. Deferred tax: When you withdraw your RRSP funds, you will pay taxes on both your contributions and the earnings of the investment. However, since it’s likely that your tax rate will be lower in retirement than in your contributing years, you may pay less tax.

An RRSP is the “umbrella” under which your investments are shielded from tax. Within the RRSP, We offer a variety of investment options including:

• Segregated Funds
• GICs

RRSPs can be established on an individual or group basis.

If your employer offers a group RRSP, contributions are generally taken as payroll deductions from an employee’s pre-tax pay.

Whether you have an individual or group RRSP, there are a number of withdrawal options available to you, including:

• Conversion into a Registered Retirement Income Fund (RRIF)
• Buying or building a home
• Financing education

Talk to Simranjeet Jaswal today to know if RRSPs can help you reach your goals. He can be your ultimate financial advisor. JASWAL have years of experience of working in this domain. With an in-depth knowledge and understanding of the steps involved in opening a highly beneficial saving account like RRSP, he can come up to the expectations of holder of such account.

Simranjeet can be the most concerned person for opening a RRSP account. Services offered by him to such account holders are:

• Cash holding
• Managing mutual funds
• Efficient handling of Index funds

Save money by reducing your tax amount by opening a RRSP account. Join hands with Simranjeet Jaswal now!