Registered Retirement Savings Plans (RRSPs)

What are Registered Retirement Savings Plans (RRSPs)?

Back in 1957, when the federal government started to realize Canada’s Pension Plan might not provide enough money for people to live on, they created a program called Registered Retirement Savings Plans.

You put in your own money, grow it by investing and, with a little hard work, you’ll have money set aside to help fund your retirement.

Tax Implications

The really cool thing: you can deduct what you contribute from your taxes today, and you don’t have to pay tax on the growth inside the plan.

No taxes – until you use the money – that’s not bad. Many people expect or even plan to have a lower income (and therefore a lower tax rate) when they start using the money.

You’re doing it, aren’t you? Picturing your retirement. Are you on a beach, your boat, the golf course, or with your grandkids? That’s good, but come back to now for a moment. Everyone knows the markets go up and down, interest rates are historically low for your savings and growing your money beyond what you put in sometimes feels like it might be impossible.

That’s why you have a Libro Coach. Your Coach will help keep your plan on track and keep your expectations real. Find balance between paying off debt today and investing for tomorrow. Help you help your kids get a leg up in life while leaving a little something to enjoy living today.

Ask a Libro Coach about:

  • RRSP Loans and when they make sense (and when they don’t).
  • RRSP top-ups and how to maximize your contributions.
  • Pre-authorized savings plans for your RRSP – the best way to save pain-free.
  • Self-directed RRSP options.

Contact a Coach


Understanding the difference between Registered Savings Accounts is an important step towards securing your financial future. These acronyms may seem intimidating, but fear not; we’re here to simplify them for you.

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*Mutual funds, other securities and securities related financial planning services are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc. Mutual funds are offered through Credential Asset Management Inc.