What is the difference between RSP and RRSP? - ProProfs Discuss
Topics-
Products +
     

What is the difference between RSP and RRSP?

Asked by R. Barnes, Last updated: Jul 05, 2019

+ AnswerRequest Answer
...

1 Answer

I. Klose

I. KloseAccountant, Franklin
Accountant, Franklin

Answered on Jul 05, 2019

RRSP is a registered retirement savings plan, and RSP is a retirement savings plan, and it may or may not be registered, but RRSP is registered. While RRSP accounts are subject to tax exemptions, following the specifications of the Income Tax Act; RRSP accounts are more sound and reliable than RSP accounts.

RRSP is a registered retirement savings plan, and RSP is a retirement savings plan, and it may or
RRSP included the coverage for life insurance, retirement and pension plans. RSP covers only retirement plans and the legal trusts establish RRSP accounts as they are registered. The credibility and security of investing in RRSP's are higher than investing in RSP's. RRSP is a type of Canadian account for holding savings and investment assets.

 Reply

Search for Google images
Select a recommended image
Upload from your computer
Search for Google images
Select a recommended image
Upload from your computer
Search for Google images
Select a recommended image
Upload from your computer

Email Sent
We have sent an email to your address "" with instructions to reset your password.