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Borrowing for Your RRSP Could Help You Build a Secure Retirement
Making the maximum contribution to your Registered Retirement Savings Plan (RRSP) each year is one of the best ways to build a secure retirement. But there are times when it's hard to find all the money.
Registered Retirement Savings Plan (RRSP)
A Registered Retirement Savings Plan (RRSP) is a retirement savings account registered with the government. Contributions to your RRSP are tax-deferred until you withdraw. The contribution amount is deducted from your gross income, potentially lowering the tax you pay on your income today.
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Note: you must be 19 years of age or older to apply.
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