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Registered retirement savings plan. A registered retirement savings plan ( RRSP) ( French: régime enregistré d'épargne-retraite, REER ), 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.
Examples of defined contribution plans include individual retirement account (IRA), 401 (k), and profit sharing plans. In such plans, the participant is responsible for selecting the types of investments toward which the funds in the retirement plan are allocated.
Individual retirement account. An individual retirement account [1] ( IRA) in the United States is a form of pension [2] provided by many financial institutions that provides tax advantages for retirement savings. It is a trust that holds investment assets purchased with a taxpayer's earned income for the taxpayer's eventual benefit in old age.
A workplace 401(k) retirement savings plan is becoming a requirement for more and more employees, according to a new survey from Charles Schwab, with 88% saying their employer must offer a plan ...
Retirement planning, in a financial context, refers to the allocation of savings or revenue for retirement. The goal of retirement planning is to achieve financial independence .
A registered retirement income fund ( RRIF) is a tax-deferred retirement plan under Canadian tax law. Individuals use an RRIF to generate income from the savings accumulated under their registered retirement savings plan.
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