RRSP 2017 Contribution Deadline:
March 1, 2018
RRSP 2017 Contribution Limit:
18% of your 2017 income (max. $26,010)

Canada's RRSP problem

Inadequate savings

The average Canadian’s retirement savings will last them only 2 years (with average savings of $71,000).1

Low participation

Only 1 in 2 Canadians are participating in Registered Retirement Savings Plans (RRSPs).2

High mutual fund fees

Canada has some of the highest mutual fund fees in the world, which can limit your RRSPs long-term growth.

There is a solution.
Learn how to take advantage of your RRSP and why Questrade, Canada's fastest-growing online brokerage, is the best place to invest.

What exactly is an RRSP?

The RRSP is a dedicated retirement account with special tax advantages. RRSP contributions lower your taxes and the investments you hold grow tax-free until withdrawal.

How does an RRSP work?

Already have an RRSP?

Transfer your RRSP account to Questrade for free

Move a minimum of CAD $25,000 from another financial institution into a new or existing Questrade account and we’ll pay your transfer-out fees up to $150.

Can you identify RRSP myths from facts?

  • Myth

    An RRSP is an investment account, not an actual investment. You can hold cash or invest in a variety of securities like stocks, ETFs, mutual funds, GICs, and more within it.

  • Myth

    There’s two major benefits:
    1) Tax deductions for the year you contribute
    2) Potential for tax-deferred growth
    The second one may be the most important, as you can grow your savings through compound interest.

  • Fact

    Technically yes. But withdrawing early means you may pay a withholding tax (from 10% - 30%) plus income tax.

  • Myth

    You will pay tax on it upon withdrawal. But you will likely be in a lower tax bracket because your income in retirement should be less than it is now.

  • Myth

    You can only deposit up to the contribution room you’ve earned. Fortunately, any unused contribution room is carried over from previous years.

  • Fact

    It varies from person to person. While a pension has the possibility to cover your retirement income, an RRSP can help supplement that income.

The contribution deadline is fast approaching