Registered Retirement Savings Plan

A Registered Retirement Savings Plan (RRSP) is a special kind of savings account that can help you save money for your retirement. It's like a piggy bank, but it's set up so that you get special benefits to help you save more. With an RRSP, you can put money in and any money you earn on that money (investment returns) are not taxed until you use the money later. That means you get to keep more of your money! In addition, when you put money into an RRSP, the government may give you even more money back as a tax return. So, an RRSP is a great way to save money for your retirement while also getting more money from the government.