RRSP (Registered Retirement Savings Plan)
Tax-deferred retirement savings account
An RRSP is a government-registered account where contributions are tax-deductible and investments grow tax-free. Withdrawals are taxed as income. Contribution room is 18% of previous year's earned income, up to an annual maximum ($32,490 in 2025). Must be converted to a RRIF by age 71.