01/20/2026
RRSP Benefits and RRSP Deadline is March 2 2026
1. Tax Deduction
Contributions are tax-deductible, reducing your taxable income in the year you claim them.
2. Tax-Deferred Growth
Investments grow tax-free inside the RRSP until withdrawal.
3. Flexible Withdrawal Options
You can use plans like the Home Buyers’ Plan (HBP) or Lifelong Learning Plan (LLP) to access funds (with repayment conditions).
4. Spousal RRSPs for Income-Splitting
Contributing to a spousal RRSP can help lower a couple’s total tax burden in retirement.
