A Registered Retirement Plan is a plan that as the name suggests is designed for retirement savings . The usual attributes include deductibility of contributions and tax deferred grow while in the plan. Withdrawals from the plan are usually taxable.
There are different types of plans available. In Canada for example, Registered Retirement Savings Plans (RRSP) are available on an individual or group basis. You can make the contributions for you own plan or to a plan for your spouse (It is an irrevocable gift). Registered Pension Plans are also available with the employer making some or all of the contributions. In addition, the Tax Free Savings Account (TFSA) does not offer tax deductibility of contributions, however the funds grow tax free and the withdrawals do not attract taxation.
If you would like to work with a local Retirement Planner, you could start with a Google search. For example, if you search for: retirement planner Halifax or retirement planning Halifax, my name, along with several others, will come up. You can use the same method to find Retirement Planners in your community.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
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There are different types of plans available. In Canada for example, Registered Retirement Savings Plans (RRSP) are available on an individual or group basis. You can make the contributions for you own plan or to a plan for your spouse (It is an irrevocable gift). Registered Pension Plans are also available with the employer making some or all of the contributions. In addition, the Tax Free Savings Account (TFSA) does not offer tax deductibility of contributions, however the funds grow tax free and the withdrawals do not attract taxation.
If you would like to work with a local Retirement Planner, you could start with a Google search. For example, if you search for: retirement planner Halifax or retirement planning Halifax, my name, along with several others, will come up. You can use the same method to find Retirement Planners in your community.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.