Actually we know economy is base of every society. People must work for earning money for better life. But there are some limiteds for this, people can work more and more when they are young. After 30 years they need to rest, but how can they earn money? How can they deposit? when they don't work. In every society there are some plans for people that are retired.
Registered Retirement Savings Plan (RRSP). Is a type of Canadian account for holding savings and investment assets. Second item is TFSA. In according my information Tax Free Savings Account (TFSA) is a kind of account in bank. For example when everyone open an account in the bank, he or she must pay some money every month. But there are some methods for their don't pay any money. One of them is TFSA. Everyone can open this account in the bank and inspite of use this facilities, he / she can get interest of bank without paying any tax to $ 5000.
Next item is Registered Education Savings Plan (RESP). In my according searching in Wikipedia it is an investment vehicle used by parents to save for their children's post secondary education in canada. In the other hand RESP is An RESP is a tax shelter, designed to benefit post-secondary students.
In canada in according my search in google, there are 3 plans for more facilities for people that they will retire after years. One of them is
In my opinion these facilities are base of every social society. And it will be better when people have more options.
Mehran Rezvani
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