Everything you need to know about RRSPs
An RRSP is an account created by the Canadian government to help Canadians save for retirement. As a registered account, RRSPs have rules and regulations around: contributing to an RRSP, how much you can contribute, what investments an RRSP can hold, and withdrawing money from your RRSP.
|Amount withdrawn||Tax withheld||Tax withheld (Quebec )|
|$5,000 - $15,000||20%||10%|
While some think an RRSP is simply a savings account, RRSPs are an incredibly versatile investment account. You can build and diversify a portfolio by investing in RRSP-eligible investment products:
For a full list of eligible investments, visit the CRA
Take matters into your own hands. Build your own investment portfolio with a self-directed account and save on fees. Make your money work harder.
No, it’s your money. You can move your RRSP anywhere you want.
No, with Questrade there are no fees to open an RRSP
No, Questrade doesn’t charge an annual trustee fee for accounts.