Compare Top RRSP Platforms

Build your nest egg and reduce your taxable income today. Compare the best platforms for your Registered Retirement Savings Plan.

Data Driven Algorithmic Integrity

We deploy rigorous data analysis to index and score the market. Our recommendations are derived from raw data, ensuring zero bias from advertiser influence.

You Are The Priority

We strive to be the smartest financial friend you have. Our goal is to save you money, not upsell you junk.

How We Stay Free

Ads pay the bills, but our Math runs the show. See our "No-Nonsense" Disclosure

FULL TRANSPARENCY

Platform Integrity & Transparency Standards

A comprehensive overview of our business model, data ethics, and commitment to unbiased service.

The Reality Check

RateBuddy is free for you to use, but it does cost money to run. To cover our expenses, we earn revenue through advertisements and sponsorship placements. This means our partners often compensate us when you click a link or apply for a product through our site. Importantly, this does not change our product ratings, rankings, reviews, or opinions. We strive to show you the most options possible so you can make informed decisions.

Our Total Loyalty Commitment

Our obligation to you supersedes any business relationship. This applies to everything we do—from the code that sorts rates to the advice in our guides. If a product has excessive fees, we expose them. If a service is outdated, we flag it. We are built to be your advocate, ensuring you always have the full, unvarnished picture.

We Can't Cover Everything

While we strive to scan the entire market, the financial world is massive. We might not list every single credit union or local bank in existence. However, we work tirelessly to present the most competitive offers available in Canada.

Our Editorial Independence

Our opinions are our own. If a card has a terrible fee, we’ll tell you. If a bank has a glitchy app, we’ll warn you. Our loyalty is to your wallet, because if you don't trust us, you won't come back. And we really want you to come back.

Explore Investing Platforms for Your RRSP

The platforms below all offer RRSP accounts for you to start investing.

Wealthsimple
Wealthsimple
Invest
ROBO ADVISOR
4.9/5
RateBuddy
4.6
Google
Hybrid Advice
All-In Cost
~0.59%
(Mgmt Fee + MER)
0.50%
Mgmt Fee
$0
Min. Deposit
Passive Indexing
Strategy
0.09%
Avg. MER
Socially Responsible Investing Halal Portfolios Tax-Loss Harvesting Human Financial Advice
Inquire View Details
Highlights
Socially Responsible Investing (SRI)
Automatic Rebalancing
Goal-Based Investing
Access to Human Advisors
Dividend Reinvestment (DRIP)
Questrade
Questwealth
Portfolios
ROBO ADVISOR
4.8/5
RateBuddy
3.2
Google
Digital Only
All-In Cost
~0.62%
(Mgmt Fee + MER)
0.50%
Mgmt Fee
$1k
Min. Deposit
Active Mgmt
Strategy
0.12%
Avg. MER
Socially Responsible Investing
Inquire View Details
Highlights
Socially Responsible Investing (SRI)
Automatic Rebalancing
Mobile App (iOS & Android)
CIPF Protected
Best for Beginners
National Bank of Canada
National
Bank
Direct
Brokerage
ONLINE BROKER
4.8/5
RateBuddy
4.6
Google
Min. Deposit $0
FX Fee 1.50%
Commissions & Fees
Free
Stock Trade
Free
ETF Trade
$1.25
Options
No Inactivity Fee
No Transfer Cover
CAD Only
Inquire View Details
Highlights
Mutual Fund Trading
Advanced Charting & Research Tools
Mobile App (iOS & Android)
CIPF Protected
Bank-Owned / Big 6
Ju
Justwealth
ROBO ADVISOR
4.8/5
RateBuddy
Hybrid Advice
All-In Cost
~0.70%
(Mgmt Fee + MER)
0.50%
Mgmt Fee
$5k
Min. Deposit
Passive Indexing
Strategy
~0.20%
Avg. MER
Tax-Loss Harvesting Human Financial Advice
Inquire View Details
Highlights
Automatic Rebalancing
Goal-Based Investing
Access to Human Advisors
U.S. Dollar (USD) Accounts
Dividend Reinvestment (DRIP)
Interactive Brokers
Interactive
Brokers
ONLINE BROKER
4.7/5
RateBuddy
4.6
Google
Min. Deposit $0
FX Fee 0%
Commissions & Fees
$1.00
/ trade
--
ETF Trade
$1.25
Options
Inactivity Fees Apply
No Transfer Cover
USD Accounts
Inquire View Details
Highlights
Fractional Shares
U.S. Dollar (USD) Accounts
Options Trading
Practice Account / Demo Mode
Advanced Charting & Research Tools
Moomoo Financial
Moomoo
Financial
ONLINE BROKER
4.6/5
RateBuddy
2.4
Trustpilot
4.5
Google
Min. Deposit $0
FX Fee 0.09%
Commissions & Fees
$1.99
/ trade
Free
ETF Buy
$0.95
Options
No Inactivity Fee
No Transfer Cover
USD Accounts
Inquire View Details
Highlights
Fractional Shares
U.S. Dollar (USD) Accounts
Cryptocurrency Trading
Practice Account / Demo Mode
Advanced Charting & Research Tools
Desjardins Group
Desjardins
Online
Brokerage
(Disnat)
ONLINE BROKER
4.6/5
RateBuddy
4.6
Google
Min. Deposit $1k
FX Fee 1.50%
Commissions & Fees
Free
Stock Trade
Free
ETF Trade
--
Options
No Inactivity Fee
Covers Transfers
USD Accounts
Inquire View Details
Highlights
Stock Trading
U.S. Dollar (USD) Accounts
Options Trading
Advanced Charting & Research Tools
Mobile App (iOS & Android)
CI Financial
CI
Direct
Investing
ROBO ADVISOR
4.5/5
RateBuddy
4.6
Google
Hybrid Advice
All-In Cost
~0.70%
(Mgmt Fee + MER)
0.50%
Mgmt Fee
$100
Min. Deposit
Passive Indexing
Strategy
0.17% - 0.23% (Private 0.49%+)
Avg. MER
Human Financial Advice
Inquire View Details
Highlights
Automatic Rebalancing
Goal-Based Investing
Access to Human Advisors
CIPF Protected
No FX Fee
Qtrade
Qtrade
Guided
Portfolios
ROBO ADVISOR
4.5/5
RateBuddy
Digital Only
All-In Cost
~1.05%
(Mgmt Fee + MER)
0.50%
Mgmt Fee
$2k
Min. Deposit
Passive Indexing
Strategy
< 0.15% (0.72% - 0.96% SRI)
Avg. MER
Socially Responsible Investing
Inquire View Details
Highlights
Socially Responsible Investing (SRI)
Automatic Rebalancing
Goal-Based Investing
Mobile App (iOS & Android)
CIPF Protected
RBC Royal Bank
RBC
Direct
Investing
ONLINE BROKER
4.4/5
RateBuddy
2.9
Google
Min. Deposit $0
FX Fee 1.50%
Commissions & Fees
$9.95
/ trade
--
ETF Trade
$1.25
Options
Inactivity Fees Apply
No Transfer Cover
USD Accounts
Inquire View Details
Highlights
U.S. Dollar (USD) Accounts
Options Trading
Mutual Fund Trading
Practice Account / Demo Mode
Mobile App (iOS & Android)
Next Page
Page 1 of 3

Visualize Your Retirement Growth

See how your money could grow in an RRSP. Use our calculator to model your future nest egg, completely tax-deferred.

Adjust your contributions to see the power of compound interest in action.

Your Growth Plan
$
$
%
Your Estimated Growth
Estimated Future Value
$0
Total Contributions
$0
Total Tax-Deferred Gains
$0
RRSP Hub • 60-second clarity

What is an RRSP? And how does it work?

The Registered Retirement Savings Plan (RRSP) is Canada’s classic retirement tool. Think of it as a tax-deferred container: you may get a deduction now, your investments grow without annual tax, and withdrawals are typically taxed later.

Deduction today
May reduce taxable income
Tax-deferred growth
No annual tax drag inside
Tax later
Withdrawals usually taxable
The big idea

A “tax-refund today” container

Core concept

When you contribute to an RRSP, you may get a tax deduction (which often results in a tax refund). Your investments can then grow tax-deferred inside the RRSP — meaning you typically don’t pay tax on interest/dividends/gains each year while it stays inside.

Deduct contributions (often a refund)
Contributions can reduce your taxable income for the year.
Grow tax-deferred
Your portfolio can compound without yearly taxation inside the RRSP.
Withdrawals are usually taxable
You generally pay tax when you take money out (often in retirement).
The strategic use-case
RRSPs are strongest when your tax rate is higher now than you expect later. Many Canadians also reinvest the refund to accelerate compounding.
What you hold inside

“Saving” vs “Investing” inside an RRSP

Decision guide

The RRSP is the wrapper. Your results depend on what you hold inside it. Most people choose between a conservative savings setup or a growth portfolio:

Safety
1) RRSP Savings Account
Best for conservative, near-term retirement planning
  • Stable, low-risk approach
  • Often used for short timelines
  • Earns interest (typically lower return potential)
See Best RRSP Savings Rates
Growth
2) RRSP Investing Account
Most common for long-term retirement growth
  • Build a diversified ETF/stock portfolio
  • Expect ups/downs in the short run
  • Keep fees low — compounding works both ways
Robo-Advisors Online Brokers
Educational content only — not financial advice. RRSP rules and limits can change; verify official info before acting.

New to RRSPs? Learn how they work and why they matter.

Learn RRSP Basics →

Estimate tax savings and growth with your RRSP plan.

Try the RRSP Calculator →

Ready to invest? Compare RRSP platforms and fees.

Explore RRSP Platforms →

Quick summary

The Registered Retirement Savings Plan (RRSP) helps Canadians save for retirement while deferring taxes. Contributions lower taxable income and investments grow tax-free until withdrawal.

  • Tax deduction: Contributions reduce your taxable income.
  • Growth: Earnings inside the RRSP are tax-sheltered until withdrawal.
  • Contribution deadline: 60 days into the new year counts toward last year’s tax return.
  • Annual limit: 18% of last year’s earned income (up to the yearly CRA limit).
  • Conversion: Must be converted to a RRIF or annuity by Dec 31 of the year you turn 71.

Who can contribute

  • You have earned income and a valid SIN.
  • You have RRSP deduction room shown on your CRA Notice of Assessment.
  • You can contribute until Dec 31 of the year you turn 71.

Deduction room & limits

Your RRSP room equals 18% of earned income up to the CRA limit, adjusted for pension adjustments and unused room carry-forward.

How it's calculated

  • 18% of prior year’s earned income, up to the CRA dollar maximum.
  • Minus pension adjustment (if you’re in a workplace pension plan).
  • Plus unused RRSP room from previous years.

Example

If you earned $80,000 last year, 18% is $14,400. Subtract $4,000 pension adjustment, add $2,000 unused room = $12,400 RRSP room.

Carry-forward & over-contribution

  • Unused RRSP room carries forward indefinitely until used.
  • You may over-contribute up to $2,000 without penalty (but not deductible).
  • Exceeding that limit triggers a 1% per month penalty on the excess.

Spousal RRSP

  • Contribute to a spouse’s RRSP using your own RRSP room; you get the deduction.
  • Helps split retirement income for future tax savings.
  • Withdrawals within 3 years of contribution are taxed back to you.

Withdrawals & conversion

  • Withdrawals are fully taxable in the year taken and subject to withholding tax.
  • By age 71, convert to a RRIF or annuity, or withdraw the full balance (taxable).

Home Buyers' Plan (HBP) & Lifelong Learning Plan (LLP)

  • HBP: Withdraw up to the program limit for a first home. Repay to your RRSP over 15 years.
  • LLP: Withdraw for eligible education. Repay over 10 years to avoid taxes.
  • These programs have no withholding tax when rules are met.

What you can invest in

  • Cash, GICs, mutual funds, ETFs, stocks, and bonds — most standard investment products qualify.
  • Keep fees low and diversify for long-term growth.
  • Withdrawals are taxable, but growth inside RRSP compounds tax-free.

How to open an RRSP

  1. Check your RRSP room on your CRA Notice of Assessment.
  2. Choose a provider (bank, credit union, brokerage, or robo-advisor).
  3. Set up automatic monthly contributions or lump-sum deposits.

Tips that help

  • Automate contributions monthly to smooth out market ups and downs.
  • Reinvest tax refunds to maximize growth.
  • Consider deferring your deduction to a higher-income year.
Try our RRSP calculator
Estimate tax savings and retirement growth with your contribution plan.

Glossary

RRSP
Registered Retirement Savings Plan – a tax-deferred savings account for retirement.
RRSP room
The maximum amount you can contribute this year, based on income and carry-forward.
RRIF
Registered Retirement Income Fund you convert your RRSP into by age 71.
HBP / LLP
Programs allowing temporary RRSP withdrawals for home or education, with repayment required.

RRSP: Common Questions Explained

A quick guide to the most common RRSP questions — contribution limits, tax deductions, withdrawals, and more.

A Registered Retirement Savings Plan (RRSP) is a government-registered account to help Canadians save for retirement. Your contributions are tax-deductible, and investment growth is tax-deferred until withdrawal.

Your annual limit is the lesser of:

  • 18% of your earned income from the previous year, or
  • The CRA maximum ($32,490 for 2025).

Unused contribution room carries forward indefinitely.

Yes. Your RRSP contributions reduce your taxable income, which can lower taxes or increase your refund.

The deadline for the 2024 tax year is March 1, 2025. Contributions made in the first 60 days of the year can count for the prior tax year.

Withdrawals are taxable as income. You can use special programs like:

  • Home Buyers’ Plan (HBP): Withdraw up to $35,000 for a first home (repay in 15 years).
  • Lifelong Learning Plan (LLP): Withdraw up to $10,000 per year ($20,000 total) for education (repay in 10 years).

You must convert your RRSP to a RRIF or an annuity by December 31 of the year you turn 71. RRIF withdrawals are taxable, but the growth remains tax-deferred.

Eligible investments include cash, GICs, mutual funds, ETFs, bonds, and publicly traded stocks.

Yes. RRSPs offer tax deductions and deferral; TFSAs offer tax-free growth and withdrawals. Many Canadians use both for flexible saving.

You can over-contribute up to $2,000 without penalty. Beyond that, the CRA charges a 1% monthly penalty on the excess until withdrawn.