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Non-Registered Savings Plan (NRSP)

Save for any scenario

Grow your money for any goal with a Non-Registered Savings Plan (NRSP) 

  • Grow your money

    Keep investing even if you’ve maxed out your RRSP or TFSA contributions.

  • Choose your goals

    Top up retirement savings, pay for a milestone goal or cover a short-term bill.

  • Enjoy flexibility

    There are no contribution limits and the option to make a withdrawal any time.

What is a Non-Registered Savings Plan (NRSP)?

An NRSP is a flexible savings option that helps you keep investing for your future if you’ve maxed out contributions in other registered savings plans. As the plan isn’t registered with the government, it’s not subject to the same regulations as other plans, so there is no limit on what you contribute or how often.

What are the benefits of using an NRSP?

  • Contribute as much as you like, whenever you want
  • Grow your investments to fund a range of goals, including retirement
  • Continue to save if you’ve maxed your contributions in other savings plans
  • Withdraw your money at any time
  • Build a customized portfolio through a combination of investment funds

Already have an NRSP?

Sign in to your online account to see if you’re making the most of your plan.

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How does an NRSP compare to other savings plans?

NRSP

TFSA

RRSP

RESP
Is there an annual contribution limit?

No

$6,000

18% of your earned income from the previous tax year

No

Are contributions tax-deductible?

No

No

Yes

No

Is tax payable on investment growth? 

Yes

No

No

No

Does the plan benefit from a government grant?  

No

No

No

Yes

The information provided is based on current laws, regulations and other rules applicable to Canadian residents. It is accurate to the best of our knowledge as of the date of publication. Rules and their interpretation may change, affecting the accuracy of the information. The information provided is general in nature, and should not be relied upon as a substitute for advice in any specific situation. For specific situations, advice should be obtained from the appropriate legal, accounting, tax or other professional advisors.

Find an advisor

Ask a financial advisor about whether a Non-Registered Savings Plan (NRSP) might be right for you.