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You set up a registered retirement savings plan (RRSP) through a financial institution such as a bank, credit union, or insurance company. Your financial institution will advise you on the types of RRSP, the investments they can contain (investmen ts in your RRSP will depend on where you open your RRSP) You may want to set up a spousal or common-law partner RRSP. This type of plan can help ensure that retirement income is more evenly split between both you and your spouse .

You set up a registered retirement savings plan (RRSP) through a financial institution such as a bank, credit union, or insurance company. Your financial institution will advise you on the types of RRSP, the investments they can contain (investmen ts in your RRSP will depend on where you open your RRSP) You may want to set up a spousal or common-law partner RRSP. This type of plan can help ensure that retirement income is more evenly split between both you and your spouse .

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Is this information correct in how to set up an RRSP
You set up a registered retirement savings plan (RRSP) through a financial institution such as a bank, credit union, or insurance company. Your financial institution will advise you on the types of RRSP, the investments they can contain (investmen ts in your RRSP will depend on where you open your RRSP) You may want to set up a spousal or common-law partner RRSP. This type of plan can help ensure that retirement income is more evenly split between both you and your spouse.
Transcribed Image Text:You set up a registered retirement savings plan (RRSP) through a financial institution such as a bank, credit union, or insurance company. Your financial institution will advise you on the types of RRSP, the investments they can contain (investmen ts in your RRSP will depend on where you open your RRSP) You may want to set up a spousal or common-law partner RRSP. This type of plan can help ensure that retirement income is more evenly split between both you and your spouse.
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