The Registered Retirement Savings Plan (RRSP) is a tax-efficient retirement savings vehicle in Canada. It allows individuals to contribute a portion of their income and invest it for long-term growth. Contributions to an RRSP are tax-deductible, providing immediate tax savings, while investments held within the plan grow tax-free. RRSPs help individuals build a reliable source of retirement income and offer flexibility in investment choices. By taking advantage of the tax benefits and making regular contributions, Canadians can achieve their retirement goals and enjoy financial security in their golden years.
