RRSP

1. You pay income tax into the plan until you retire into your RRSP

• True

• False

2. RRSPs are pointless because you pay taxes when you withdraw from them.

• True

• False

4. It's more profitable to pay off your mortgage than to put money into an RRSP.

• True

• False

5. If you die and have too much invested in RRSPs, there will be tax consequences.

• True

• False

3. A TFSA(Tax-free Savings Account) can earn more than an RRSP.

• True

• False

RRSP stands for Reserved Rent Savings Plan

• True

• False

You can carry forward RRSP contributions

• False

• True

• You can get into the home buyer’s plan.

• False

• True

RRSP contributions aren't tax-deductible

• True

• False

RRSP savings will not affect eligibility for federal benefits

• True

• False