RRSP Quiz/Review

Pre-tax money is placed into an RRSP and grows tax-free until withdrawal, at which tim

Until what age can you contribute to this account?

You can withdrawal the money and transfer it to a RRIF (the income fund) as early as the age as 55?

The growth of RRSP investments is tax-deferred.

Withdrawls are taxed heavily

Select the Statement that is true:

A RRSP (Registered Retirement Savings Plan) is a:

The minimum age for contributing to an RRSP is 18

Only 14% of people nearing retirement have a financial plan

The CRA sets the rules governing annual contribution limits, timing, and what assets are allowed