Registered Products

Investing through a registered plan enables Canadians to minimize taxes while saving for the future.

Why Registered Plans?

You have many different types of accounts to choose from when saving for your future, with each offering plenty of advantages … as well as some restrictions.

Know Your Options

Everyone knows when they walk into a bank to open an account that they'll be asked to choose between a chequing and a savings account. Both come with distinct advantages, as well as certain restrictions.

Similarly, when working with your advisor to create a plan for your financial future, you'll be able to choose between a few different types of accounts, each with their own features.

Some of these features are very important for you to know, including tax deferral and withdrawal restrictions, and can impact your ability to grow your savings over longer periods of time.

Your two main account options are:

1. Registered Accounts

  • Include Registered Retirement Savings Plans (RRSPs), Registered Retirement Income Funds (RRIFs) and Registered Education Savings Plans (RESPs).
  • Usually have some restrictions in terms of the amounts you can contribute each year and how much you can withdraw.
  • Tend to offer attractive tax deferral or savings incentives. For instance, RRSPs allow you to defer paying tax on the amount you contribute, as well as on any income payments or investment growth achieved within your RRSP, until withdrawal. With RRSPs, you also have the ability to take money out (tax free) under certain conditions, including programs related to buying your first home or funding an education.
  • Tax-Free Savings Accounts (TFSAs), which can be used to help meet any financial goal, are funded using after-tax dollars. When you withdraw funds from this account, the amount is not taxable.

2. Non-Registered Accounts

Non-registered accounts don’t offer the same tax-deferral or tax-reduction benefits as registered accounts but have few or no restrictions in terms of how much you can deposit or how often you can access your savings.


  • No Contribution Limit 
  • Not a tax-deductible contribution
  • Fully taxable earnings growth 
  • Capital loss on investments can be used to offset capital gains (three preceding tax years, carried forward indefinitely)
  • No maximum age for contribution 
  • Allows for recontribution for withdrawals 
  • No overcontribution penalty 
Did You Know

A financial advisor can help you understand all the rules and features of these accounts to determine which type is best for you.

Don’t have a financial advisor? Before you start your search, read about working with a financial advisor.

Learn More About Registered Plans

This material is for informational and educational purposes only. It is not a recommendation of any specific investment product, strategy, or decision, and is not intended to suggest taking or refraining from any course of action. It is not intended to address the needs, circumstances, and objectives of any specific investor. This information is not meant as tax or legal advice. Investors should consult a financial advisor and/or tax professional before making investment, financial and/or tax-related decisions.