Benefits of a RRSP
Tax-sheltered growth on investments
Contributions can lower your annual tax bill
Unused contribution room carries over and doesn’t expire
Leverage your RRSP to pay for education or a home down payment
When to open a RRSP
Having enough money to retire comfortably is one of the most common investing goals for Canadians – and the RRSP is one of the best accounts to get there.
You’re comfortable putting money away long-term
You’re looking for ways to reduce your annual tax bill
You and your partner have different income levels and want to maximize your tax savings with a Spousal RRSP
Your money is in good hands
With Questrade, you can rest assured that your money, your account and your personal information are protected.
We're regulated by CIRO and a CIPF member.
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Get answers to frequently asked questions
Yes, you can easily transfer your RRSP to Questrade. Just fill out a form and we’ll handle the rest – including covering the transfer-in fees you may be charged, up to $150 per account. Terms and conditions apply.
The RRSP is a versatile account and can hold many assets including stocks, ETFs, options, mutual funds, bonds, precious metals, GICs, and cash.
There’s no limit on how many RRSPs you can have. However, your total contribution room across all your accounts will be the same as if you only had one.
Your remaining RRSP contribution room varies based on how much you’ve contributed to your account. You can find how much room you have left by logging into your CRA account.
Your RRSP deduction limit determines how much you’re allowed to claim on your income taxes to reduce your tax bill. You can find your deduction limit by logging into your CRA account.
The Home Buyers’ Plan (used for a qualifying home down payment) and the Lifelong Learning Plan (used for education at qualifying institutions) let you take money from your RRSP tax-free, but the amount you withdraw must be paid back within a set period of time.
We’re here to help you get started
Our account specialists are available to assist with any account-related questions you may have, and to help you get set up.
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Send us an emailLearn more about RRSPs
Everyone’s journey to retirement looks a little different. To help you on yours, we’ve put together some of the must-read retirement articles from our Learning Centre.
Everything you need to know about RRSPs
From RRSP withdrawal rules to contribution limits and everything in between, learn the ins and outs with our walkthrough.
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Is a TFSA or RRSP better for retirement saving?
Both accounts come with unique, valuable benefits. This breakdown can help you decide which one best fits your needs.
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Don’t just park your retirement savings
Not all ways of putting money aside are created equal. Take a closer look at how investing can elevate your retirement contributions.
Read article1 To open a Questrade RRSP, you must be the age of majority in the province where you reside. You only earn contribution room once you have received income and filed a tax return. After you turn 71, your RRSP is converted into a Registered Retirement Income Fund (RRIF).
2 There are two ways to withdraw from your RRSP without being taxed: The Home Buyers’ Plan (used for a qualifying home down payment) and the The Lifelong Learning Plan (used for education at qualifying institutions). Both of these are tax-free and interest-free, but the amount you borrow from your RRSP with them must be paid back within a set period of time.
3 Exchange and ECN fees may apply. Only applies to Canadian and US listed ETFs.
4 Standard text messaging rates may apply.