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A registered retirement savings plan (RRSP) (French: régime enregistré d'épargne-retraite, REER), or retirement savings plan (RSP), is a Canadian financial account intended to provide retirement income, but accessible at any time. RRSPs reduce taxes compared to normally taxed accounts.
A registered retirement income fund (RRIF, French: fonds enregistré de revenu de retraite, FERR) is a tax-deferred retirement plan under Canadian tax law. Individuals use an RRIF to generate income from the savings accumulated under their registered retirement savings plan. As with an RRSP, an RRIF account is registered with the Canada Revenue ...
The Canada Revenue Agency (CRA) describes the difference between a TFSA and an RRSP as follows: "An RRSP is primarily intended for retirement. A TFSA is like an RRSP for everything else in your life." [29] Interest paid on money borrowed to invest in either TFSA or RRSP is not tax deductible. [30]
The distinction between a LIRA / LRSP and a registered retirement savings plan (RRSP) is that, where RRSPs can be cashed in at any time, a LIRA / LRSP cannot. Instead, the investment held in the LIRA / LRSP is "locked-in" and cannot be removed until either retirement or a specified age outlined in the applicable pension legislation (though certain exceptions exist).
Capital gains earned on income in a Registered Retirement Savings Plan are not taxed at the time the gain is realized (i.e., when the holder sells a stock that has appreciated inside of their RRSP) but they are taxed when the funds are withdrawn from the registered plan (usually after being converted to a Registered Income Fund at the age of 71 ...
In 1981, Malaysia decided to standardise the time across its territories to a uniform UTC+08:00. Singapore elected to follow suit, citing business and travel schedules. [14] [15] The change took effect on New Year's Day (1 January) 1982 when Singapore moved half an hour forward on New Year's Eve (31 December) 1981 at 11:30 pm creating "Singapore Standard Time" (SST) or "Singapore Time" (SGT). [16]
The Canada Pension Plan Investment Board (CPPIB; French: Office d'investissement du régime de pensions du Canada), operating as CPP Investments (French: Investissements RPC), is a Canadian Crown corporation established by way of the 1997 Canada Pension Plan Investment Board Act to oversee and invest the funds contributed to and held by the Canada Pension Plan (CPP).
The 1977 Canadian federal budget tightened the rules of the RHOSP: [14] It removed the purchase of furnitures from the list of usage allowed for tax-free use of RHOSP proceeds starting in 1978; [15] Deductible contributions were disallowed for a taxpayer whose spouse owned a home; [16] Tax-free rollover of RHSOP funds to a RRSP was suspended;