Registered Retirement Savings Plan (RRSP)

Régime enregistré d'épargne-retraite (REER)

Plan that allows contributors to save a portion of their annual earned income, up to the limits prescribed by law, while deferring tax on the contributions made. Income earned within the plan grows on a tax-sheltered basis, but amounts withdrawn are taxed as ordinary income, regardless of their source (e.g., dividends, capital gains or interest).