A Registered Retirement Savings Plan is a great benefit to offer your employees. Get to know the basics as you read below: Definition of 'Registered Retirement Savings Plan - RRSP' A legal trust registered with the Canada Revenue Agency and used to save for retirement. RRSP contributions are tax deductible and taxes are deferred until the money is withdrawn. An RRSP can contain stocks, bonds, mutual funds, GICs, contracts and even mortgage-backed equity. Source: Investopedia   What’s the best way to invest in my RRSP: Should I…

When small business owners decide to move ahead with offering a savings plan for their employees, by the far the first choice for many is a Group Registered Retirement Savings Plan (RRSP). Whereas Pension Plans are highly regulated, Group RRSPs are simple to implement. A Group RRSP is subject to the same rules as an individual RRSP. The main difference is that the RRSPs for all the employees in your firm are “grouped” together under one plan at a financial institution. Although the accounts are grouped together, funds between each employee…

It's hard to believe, but November is nearly half-way through, and once again that crazy time of year is breathing down our necks.... And no, we are not talking about the upcoming holiday season! (Although that is quickly creeping around the corner as well! Don't forget to come visit our blog in December for some easy and fun holiday recipes/tips.) We're talking about "RRSP Season" - the months of January and February - when Canadians are suddenly inundated by messages to contribute money into a Registered Retirement Savings Plan (RRSP). From radio ads,…