What is an RSP in Canada?

People often mistake Registered Retirement Saving Plan (RRSP) for Retirement Saving Plan (RSP). Although they are both aimed towards retirement, they’re different. While a Retirement Savings Plan (RSP) refers to several retirement accounts, a Registered Retirement Saving Plan (RRSP) relates precisely to one account type. One of the most significant tax advantages of an RSP …

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