RRSP meaning in Business ?

Answer: What is Registered Retirement Savings Plan mean?

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. They were introduced in 1957 to promote savings for retirement by employees and self-employed people.

They must comply with a variety of restrictions stipulated in the Canadian Income Tax Act. Approved assets include savings accounts, guaranteed investment certificates (GICs), bonds, mortgage loans, mutual funds, income trusts, corporate shares, exchange-traded funds, foreign currency, and labour-sponsored funds. Rules determine the maximum contributions, the timing of contributions, the assets allowed, and the eventual conversion to a registered retirement income fund (RRIF) at age 71.

reference

Full Form	Category
Rising Researcher Support Program	Academic & Science
Rural Research and Strategy Partnership	Academic & Science
Registered Retirement Savings Plan	Business
Rhythm Rap Song Poems	Community
River Rat Scholarship Program	Community
Risk and Revenue Sharing Partner	General
Registered Retirement Savings Plans	General
Recommended Retail Selling Price	General
Road Rehabilitation and Safety Project	General