Non-Registered Savings Plan (NRSP)
To set aside additional savings
The non-registered savings plan (NRSP) is a plan that lets investors set aside additional savings for retirement or any other project when the maximum RRSP, TFSA, individual pension plan (IPP) or "pension plan" contributions have been reached.
Advantages of an NRSP for your clients
- The amounts may be withdrawn at any time from the segregated fund or GIA selected.
- It is useful for setting aside savings in the short or long term.
How does the NRSP work?
- Your clients cannot deduct the invested amount on their annual income tax return.
- Investment income is taxable.