It looks like you are using an outdated browser. Update your browser for a better experience when using our site. For the best mobile experience download the my Sun Life app. Plan sponsors and advisors. By signing in, you agree to these terms and conditions. A registered retirement savings plan RRSP is a personal savings account that has special tax advantages.
RRSPs can hold a variety of qualifying investments, including treasury bills, guaranteed interest productsmutual fundssegregated fund contracts, bonds and equities. As well, some types of investment contracts, such as registered guaranteed investment fund contracts, are themselves RRSPs.
An RRSP is such a powerful savings vehicle because your contributions are tax deductible, and the taxes on any investment growth are deferred until you take your money out. And tax-deferred investment growth interest, dividends, capital gains keeps more of your money working for you.
When you withdraw money from your RRSP, it is taxed at your tax rate at the time you take it out, registered disability savings plan and canada. But everything has its limits, including your RRSP. Learn more about RRSP contribution limits. Confused about the best savings option for your needs?
Learn more about RRSPs vs. Starting and building an RRSP is an important step towards securing your financial future — and professional guidance can be a valuable part of your decision-making. An advisor understands how RRSPs work and can show you how to structure your contributions and choose your investments to make the most of the benefits offered by this powerful savings vehicle. Make well-informed decisions with helpful advice. Talk to your advisor or find one near you - there is no cost to talk to an advisor.
Contributions, withdrawals and fund changes. RRSP receipts and tax slips. Tax-free savings account TFSA. Your browser is out of date Psoriasis and bone cancer looks like you are using an outdated browser. Find the latest versions of the browser we support below. Region and language selection is expanded. Click this button to collapse it.
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Expand or collapse region and language section. Search Registered disability savings plan and canada or collapse search. Back Customer support Customer support overview Sign-in help Download our app Submit or track a claim Find a form Coverage and eligibility Print your coverage card Check a balance Contributions, withdrawals and fund changes RRSP receipts and tax slips Change beneficiaries Address updates Banking information updates Unclaimed property Complaints or concerns.
Registered retirement savings plan RRSP. What is an RRSP? You should consider an RRSP if: The amount you contribute to your RRSP is tax deductible. Once you retire, you and your spouse can take income from your respective retirement registered disability savings plan and canada and be taxed at an individual rate.
Members of a group RRSP typically benefit from lower administration and management fees than would be applied to an individual plan. You may also be able to contribute through payroll deductions, which allows you to invest throughout the year.