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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.
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.
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The amount that an individual can contribute to an RRSP each year is based on their earned income, up to a certain limit. Contributions to an RRSP are tax-deductible, which means that they reduce an individual's taxable income for the year in which they are made. This can result in a reduction in the amount of tax that the individual owes.
Registered retirement savings plan (RRSP) and tax-free savings account (TFSA) (Canada) [47] Superannuation in Australia (Australia) – Australia and New Zealand have a reciprocal agreement allowing Australians moving to New Zealand to transfer their Australian superannuation scheme to an approved KiwiSaver funds, and vice versa. [48]
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).
The Spanish Wikipedia (Spanish: Wikipedia en español) is the Spanish-language edition of Wikipedia, a free online encyclopedia. It has 2,009,807 articles. It has 2,009,807 articles. Started in May 2001, it reached 100,000 articles on 8 March 2006, and 1,000,000 articles on 16 May 2013.
Vesting is an issue in conjunction with employer contributions to an employee stock option plan, deferred compensation plan, or to a retirement plan such as a 401(k), annuity or pension plan.