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Registered Retirement Savings Plans

A Registered Retirement Savings Plan (RRSP) is a financial savings instrument that allows contributions to be used as income tax deductions in hopes that people will save for their own retirement. RRSPs were developed in response to the fear that the Canadian Pension Plan might not be around or adequate enough as the population grows older. Investors can deduct contributions against their year's earnings. Every $100 deposited into an RRSP will save the investor from paying approximately $50.00 in income taxes. RRSPs also allow investors to share their RRSP contributions with their spouse to avoid paying higher tax on the higher income-earner. This is called income splitting and works because of Canada's progressive tax system. RRSPs also allow a tax shelter from any income or capital gain earned inside the plan. All income and gains earned inside of the RRSP is automatically deferred until redemption which is assumed to be retirement age of the investor.




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Insurance products and financial planning services are offered through Stewart, Fisher & Associates Inc.
Mutual funds are offered through Quadrus Investment Services Ltd.