How spousal RRSPs can reduce taxes without getting you in trouble

How spousal RRSPs can reduce taxes without getting you in trouble

Spousal registered retirement savings plans (RRSPs) have been around for decades, and for many couples, these plans can play an important role in reducing tax upon retirement. But, they can be complicated, and it’s important to understand how they work and when they are most appropriately used in retirement. Let’s review the contribution rules, and then look at a few of the most common reasons for using spousal RRSPs.