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   What is a spousal RRSP?

   • A spousal RRSP is a registered retirement savings plan that names your spouse as the "annuitant" — or owner — of the plan, even though you might be making the contributions. The main objective of a spousal RRSP is to shift retirement income from the higher-income spouse to the lower-income spouse.

   What is a Spousal RRSP? | RBC Royal Bank

   www6.royalbank.com/en/di/hubs/investing-academy/article/what-is-a-spousal-rrsp/kedfik54

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   Can a spousal RRSP help you save money?

   • In the intricate dance of managing finances as a couple, optimizing your retirement savings becomes one of the key dance steps. One sometimes helpful move is a Spousal Registered Retirement Savings Plan (Spousal RRSP), which can offer some financial and tax benefits for couples.

   What is a Spousal RRSP? - My Money Matters - RBC Royal Bank

   www.rbcroyalbank.com/en-ca/my-money-matters/inspired-investor/investing-academy/what-is-a-spousal-rrsp/

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   Should you contribute to a spousal RRSP before your spouse retires?

   • Additionally, if one spouse plans to retire earlier than the other, contributing to a Spousal RRSP before the first partner retires can set the stage for more balanced income distribution, and a potentially lower tax bill during retirement.

   What is a Spousal RRSP? - My Money Matters - RBC Royal Bank

   www.rbcroyalbank.com/en-ca/my-money-matters/inspired-investor/investing-academy/what-is-a-spousal-rrsp/

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   Can RRSP funds be transferred to a spousal or common-law partner?

   • Funds in an RRSP cannot be moved or transferred to an RRSP that does not have the same annuitant as the RRSP where the money is coming from. For example, you cannot transfer funds in your RRSP to a spousal or common-law partner RRSP. No contributions can be made to a deceased individual’s RRSP, PRPP, or SPP after their date of death.

   Contributing to your spouse's or common-law partner's RRSPs

   www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/contributing-a-rrsp-prpp/contributing-your-spouse-s-common-law-partner-s-rrsps.html

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   Can a spouse withdraw money from a RRSP?

   • When withdrawing funds from a Spousal RRSP, there are some important rules to keep in mind. If the receiving spouse withdraws money within three years of a contribution made by their partner, the withdrawal amount may be attributed back to the contributing spouse for tax purposes.

   Spousal RRSP Explained: Benefits, Rules & Tax Implications - Money Wiz…

   moneywizard.ca/investing/rrsp/what-is-a-spousal-rrsp/

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   Can a spousal RRSP be used to buy a home?

   • When couples retire and withdraw funds from their RRIF or annuity, they can split income to help pay less income tax. If you’re buying your first home, you can borrow up to $35,000 from your RRSP as part of the Home Buyers’ Plan. A spousal RRSP lets couples access up to $35,000 each for a total of $70,000.

   How do spousal RRSPs work? - Canada Life

   www.canadalife.com/investing-saving/saving/registered-retirement-savings-plan-rrsp/spousal-rrsp.html

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2. www6.royalbank.com › en › diWhat is a Spousal RRSP? - RBC Royal Bank

   www6.royalbank.com › en › di

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   Oct 5, 2020 · A spousal RRSP is a registered retirement savings plan that names your spouse as the "annuitant" — or owner — of the plan, even though you might be making the contributions. The main objective of a spousal RRSP is to shift retirement income from the higher-income spouse to the lower-income spouse.

3. www.canada.ca › en › revenue-agencyContributing to your spouse's or common-law partner's RRSPs

   www.canada.ca › en › revenue-agency

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   Contributions made to a spouse’s or common-law partner’s RRSP can be claimed on the deceased individual’s income tax and benefit return up to that individual’s RRSP deduction limit for the year of death.

4. Videos

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     WHAT IS A SPOUSAL RRSP? RRSP vs Spousal RRSP Explained.

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     Benefits To Spousal RRSPs...Are There Any?

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     Spousal RRSP Explained: How It Works and the Tax Benefits (Pros and Cons)

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5. www.wealthsimple.com › en-ca › learnWhat is a Spousal RRSP? - Wealthsimple

   www.wealthsimple.com › en-ca › learn

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   Feb 6, 2024 · A spousal RRSP is a special type of Registered Retirement Savings Plan that can be helpful to couples with meaningfully different incomes. (It’s also one of the few times it can strengthen a relationship to bring up the fact that one of you makes more money than the other.)

6. www.td.com › personal-investing › learnSpousal RRSP Contribution & Withdrawal Rules - TD

   www.td.com › personal-investing › learn

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   What is a Spousal RRSP? A Spousal RRSP (Registered Retirement Savings Plan) is a savings vehicle that you can contribute money to each year and save for your spouse or common-law partner's retirement. The difference between a spousal RRSP and a personal RRSP is that, with a spousal RRSP, one spouse is the annuitant (the plan holder or owner of ...

7. moneywizard.ca › investing › rrspSpousal RRSP Explained: Benefits, Rules & Tax Implications

   moneywizard.ca › investing › rrsp

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   May 13, 2024 · A Spousal RRSP is a type of Registered Retirement Savings Plan (RRSP) that allows one spouse or common-law partner to contribute to an RRSP in their partner’s name. Its primary purpose is to split retirement income between partners, potentially reducing the couple’s overall tax burden in retirement.

8. www.rbcroyalbank.com › what-is-a-spousal-rrspWhat is a Spousal RRSP? - My Money Matters - RBC Royal Bank

   www.rbcroyalbank.com › what-is-a-spousal-rrsp

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   Feb 2, 2024 · A Spousal RRSP is a registered retirement savings plan designed for couples, married or common-law, and allows one partner to contribute to the other’s RRSP. The individual contributing to the Spousal RRSP get the tax deduction, but the plan is in the non-contributing spouse or common-law partner’s name.

9. www.canadalife.com › spousal-rrspHow do spousal RRSPs work? - Canada Life

   www.canadalife.com › spousal-rrsp

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   What is a spousal RRSP? A spousal registered retirement savings plan (RRSP) lets married and common-law couples: Even out retirement savings between 2 partners; Split their income after they retire by withdrawing from their annuity or registered retirement income fund (RRIF) Reduce the amount of income tax they pay; How do spousal RRSPs work?