Registered Retirement Savings Plan contribution (RRSP contribution)

Definition

Funds and assets held in Canadian account towards RRSP. Established in 1957, RRSP was created to encourage individual savings towards retirement. It is regulated by the Canadian Income Tax Act, overseeing issues such as maximum contribution, assets allowed and the contribution rate, which is 18% of the preceding year's earned income.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
registered retirement income fund Registered Retirement Savings Plan deduction limit (RRSP deduction limit)