An RRSP(Registered Retirement Savings Plan)  has two  principal  advantages:

1:  PAY LESS TAX: It allows you to lower your taxable income therefore  lowering  your federal taxes owning,  or increase your refund.

2- TAX DEFERRAL GROWTH: It allows  your retirement nestegg to grow tax free until the time you decide to convert your RRSP to a RRIF which can be done up to the age of 71.

Many investment products such as mutual funds, stocks, bonds  and GICs can be put into an RRSP plan.
Studies show one of the best investment strategies for an RRSP is to invest regularly which allows you  to take advantage of market fluctuations.  (DOLLAR COST AVERAGING).

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