Make the Most of Your Registered Retirement Savings Plan
Get your free guide to see how far your RRSP can take you.
Get your free guide to see how far your RRSP can take you.
RRSP Investing for Your Retirement
RRSP Investing for Your Retirement
Learn how you can use your RRSP—and many other methods—to generate the retirement income you’ll need to live comfortably when you download The Definitive Guide to Retirement Income. The insights in this guide can help you decide which income strategies are right for you.
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Generating Income with Your RRSP Portfolio
You’ve worked hard to build your nest egg, and now you can put it to work. Your Registered Retirement Savings Plan (RRSP) can be used to generate the income you need to enjoy a comfortable retirement. Fisher Investments Canada can show you the pros and cons of the investments that may be right for you. If you’ve saved $500,000+, download The Definitive Guide to Retirement Income to get started.
Take the next step toward meeting your financial goals by speaking with one of our representatives. We’ll take the time to learn about your unique situation while answering your questions about investing in bonds—plus much more, including:
Reviewing Your Portfolio and Goals
Tell us about your retirement needs and wants, and hear how we can help you achieve them.
Learn MoreEvaluating Your Financial Plan
Get a second opinion on your retirement plan to make sure you’re on track.
Learn MoreDiscussing RRSP Strategies
Learn how Fisher Investments Canada can put your RRSP to work.
Learn MoreWhat You Should Know About Your Canadian RRSP
One of the most important steps you can take to help meet your long-term financial goals is saving for retirement. If you’re working in Canada, you’re likely to have access to an RRSP. Combined with an investment strategy tailored to your unique goals, an RRSP can be a powerful tool as you prepare for retirement. Understanding RRSPs could be your first step toward retiring comfortably.
What Is an RRSP?
Registered Retirement Savings Plans (RRSPs) are accounts that allow you to participate in a wide range of investments. Your investment adviser, who can help make sure you are building a portfolio of investments suitable to your needs and goals, can manage these accounts.
RRSP Contributions and Limits
Your maximum contribution to an RRSP is 18% of your earned income, up to a certain threshold. The maximum contribution limit generally increases each year to account for inflation. Any workplace pension you are receiving might also impact your RRSP contributions. The Canadian Revenue Agency (CRA) keeps track of your contributions. You can create an online account with the CRA to track how much room you have to contribute to your RRSP.
RRSPs and Taxes
Contributing to an RRSP can help you reduce your current tax bill and defer taxes. The investments you make with the contributions to your RRSP can grow tax-free until you begin taking withdrawals in retirement.
RRSP Withdrawals
Withdrawals from your RRSP are taxed in full as income, but some retirees may expect to have less taxable income in retirement compared to their working years, so your tax burden may be smaller. Though you can start RRSP withdrawals sooner, at age 71 you are required to either withdraw the funds, use them to purchase an annuity or process an RRSP to RRIF conversion. Because annuities often come with high fees and restrictions, consider working with an investment adviser who can help you invest your withdrawal—or RRIF—in a way that meets your needs.
Converting RRSP to RRIF
Converting your RRSP to an RRIF in Canada (also known as Registered Retirement Income Fund) is one option for the assets you’ve saved. RRSP to RRIF conversions can be a smart way to continue generating income in retirement. RRIFs are generally held by a financial institution, and can be invested with the help of your adviser. The year after converting your RRSP to an RRIF, you will be required to take an annual minimum distribution.
About Fisher Investments
Since 1979, Fisher Investments has helped tens of thousands of investors meet their long-term financial needs. We’re a fiduciary—meaning we always put our clients first. We take time to understand their unique goals, then tailor portfolios to help achieve them. That’s just one reason investors like you, who have worked hard to save for their futures, rely on us throughout their retirement.
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