Grow your money for any goal with a Non-Registered Savings Plan (NRSP)
An NRSP is a flexible savings option that helps you keep investing for your future if you’ve maxed out contributions in other registered savings plans. As the plan isn’t registered with the government, it’s not subject to the same regulations as other plans, so there is no limit on what you contribute or how often.
- Contribute as much as you like, whenever you want
- Grow your investments to fund a range of goals, including retirement
- Continue to save if you’ve maxed your contributions in other savings plans
- Withdraw your money at any time
- Build a customized portfolio through a combination of investment funds
How does an NRSP compare to other savings plans?
|
|
NRSP |
|
RRSP |
|
|---|---|---|---|---|
|
|
No |
$7,000 |
18% of your earned income from the previous tax year |
No |
|
Are contributions tax-deductible? |
No |
No |
Yes |
No |
|
Is tax payable on investment growth?
|
Yes |
No |
No |
No |
|
|
No |
No |
No |
Yes |
The information provided is based on current laws, regulations and other rules applicable to Canadian residents. It is accurate to the best of our knowledge as of the date of publication. Rules and their interpretation may change, affecting the accuracy of the information. The information provided is general in nature, and should not be relied upon as a substitute for advice in any specific situation. For specific situations, advice should be obtained from the appropriate legal, accounting, tax or other professional advisors.