What does RRSP mean in Stock Exchange?
This page is about the meanings of the acronym/abbreviation/shorthand RRSP in the Business field in general and in the Stock Exchange terminology in particular.
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Definition
What does RRSP mean?
- Registered retirement savings plan
- A registered retirement savings plan (RRSP), or retirement savings plan (RSP), is a type of financial account in Canada for holding savings and investment assets. RRSPs have various tax advantages compared to investing outside of tax-preferred accounts. They were introduced in 1957 to promote savings for retirement by employees and self-employed people. They must comply with a variety of restrictions stipulated in the Canadian Income Tax Act. Approved assets include savings accounts, guaranteed investment certificates (GICs), bonds, mortgage loans, mutual funds, income trusts, corporate shares, exchange-traded funds, foreign currency, and labour-sponsored funds. Rules determine the maximum contributions, the timing of contributions, the assets allowed, and the eventual conversion to a registered retirement income fund (RRIF) at age 71.
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"RRSP." Abbreviations.com. STANDS4 LLC, 2024. Web. 25 Apr. 2024. <https://www.abbreviations.com/term/181016>.
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