Use PACs to save automatically for yourRRSPall year round and avoid the stress of the annualRRSPcontribution deadline1.
You can choose to contribute weekly, bi-weekly, monthly, quarterly, semi-annually, or annually.
As a result of this compounding, your savings have the potential to grow faster than if you made a lump sum contribution.
Contributions are tax deductible
Your regular contributions (up to your annual limit) can be subtracted from your earned income, reducing the amount of income tax you pay2.
To get started, download thetax deduction waiverfrom theCRA website.
