Retirement and Savings

There are two different methods through which taxes can be deferred and your future can be planned. These two products would be RESP and RRSP. RRSP is Registered Retirement Savings Plan, which is a deduction from your income, and at the same time can be cashed out at the time of your retirement. RESP is Registered Education Savings Plan which provides you with a plan to save for your children’s post-secondary education through government grants.