The best RRSP investments 2021 + MORE Feb 24th

Divorce can be a distressing, life-altering event that has a wide range of social and financial implications. The correct investment management of retirement savings can be crucial for a comfortable retirement. The question is, ‘what exactly are spouses entitled to?’ There are three matrimonial property regimes:

Marriage in community of property,
Marriage out of community of property without accrual, and
Marriage out of community of property with accrual.

Depending on which one you’ve agreed upon, there may be a sharing of assets you own individually or jointly when you get divorced. If you have a retirement annuity, you typically know that there are applicable restrictions such as only being able to access the money once you reach 55 years of age. However, according to the Pension Funds Act (PFA), there can be certain situations when a deduction may be made from a pension benefit. One such exception is typically known as a “pension interest” deduction.
What happens to your retirement savings may be a pertinent issue for many divorced couples…

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A registered retirement savings plan (RRSP) is an investment that is registered with the Canadian federal government. RRSPs are often described as being “tax-advantaged.” That means you don’t pay income tax on the amount you are contributing to an RRSP, in the year you earn that contribution. However, you will have to pay income tax when you withdraw money during your retirement. The advantage is built on the assumption that your income is higher now than it will be in retirement. If you plan things right, you will be in a lower tax bracket in retirement, meaning that you pay less tax on your withdrawals than you saved initially by stashing your money inside an RRSP.
You can open an RRSP and contribute income up until the year you turn 71, at which point it has to become a registered retirement income fund (RRIF) and you begin to withdraw the money as taxable income. 
The best RRSP accounts  in Canada for 2021

Best RRSP savings account: EQ Bank RSP Savings Account* (2.30%)
Best robo-advisors: Questealth Portfolio and Wealthsimple Invest
Best brokerage account for passive investing: Wealthsimple Trade
Best brokerage account for active traders: Questrade
Best brokerage account for mutual funds: Qtrade

Best RRSP savings account
EQ Bank RSP Savings Account*
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