It's never too early to begin saving for retirement

A Registered Retirement Savings Plan (RRSP) allows you to make tax-deferred contributions toward retirement savings. By deferring taxes on the growth within the plan to a time in the future (like retirement) when you will likely be in a lower tax bracket, you can save money. What’s more, the money you contribute can be used to reduce earned income for tax purposes during your pre-retirement years.

Quick facts:

• An RRSP can be opened at any time but must be changed to a RIF by the end of the year in which the annuitant turns 71 years old
• For 2009, the limit on yearly contributions is the lesser of 18% of earned income
• Up to 100% of your RRSP may be invested in foreign holdings
• The contribution deadline for the 2009 tax year is February 28, 2010

Talk to one of our experts about how to customize a RRSP to effectively and tax-efficiently plan for your retirement years.

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