Spousal RRSP
Build towards your future together with a spousal registered retirement savings plan.
A smart way to save for retirement, together
Tax-deductible
Just like your personal RRSP, you can use contributions to your spousal RRSP to offset your taxes.
Income splitting at any age
The higher-earner can contribute, but it’s up to the lower-earner to withdraw and be taxed at their rate.
Reduce retirement income tax
Balance out how much you each earn on paper by equalizing your retirement income to increase your deductions and optimize income taxes.
Contribute past age 71
If you’re older than your spouse, you can continue contributing to the spousal RRSP until they reach 71 — even if that’s years after you do.
Get to know how a spousal RRSP works
18%
The percentage of your last year’s earned income you can contribute to your RRSPs, including spousal RRSPs to which you are the contributor (to the max contribution limit of $31,560 for 2024).
18-71
The age of eligibility for the spouse who is benefiting from the spousal RRSP. Once they turn 71, the spousal RRSP will need to be converted to a spousal RRIF.
Unlimited carry-over
If you can’t contribute the full amount to your spousal RRSP, your unused contribution allowance carries over year after year until your spouse turns 71.
WHO SHOULD OPEN A SPOUSAL RRSP?
Couples with vastly different income levels could consider opening one to maximize tax benefits for both partners.
Spousal RRSPs allow one partner to contribute to the other’s retirement, maximizing household tax savings while growing their nest egg and when it’s time to use it.
Ways to invest with a spousal RRSP
Have your portfolio tailored to your goals
With Managed investing, we do the heavy lifting. Tell us your goals and timeline for your spousal RRSP and we’ll build you a custom portfolio with a wide range of assets across the market.
Independently trade stocks and ETFs
A Self-directed investing account gives you total control over where your money is invested. Buy and sell stocks and ETFs commission-free, automate your investments, and start trading right away with up to $250,000 in instant deposits.
Simplified saving for the future
Start saving in minutes
Open your account without any bank appointments or paperwork. Making your contributions (or withdrawing when the time comes) only takes a few taps.
Reach out to us for support
Questions about your Spousal RRSP? Our team is here to help — just get in touch.
Keep more of your returns
Whether you’re picking your own stocks, or letting us manage your investments, you won’t need to worry about high fees eating into your returns.
Move your spousal RRSP to us and we'll cover the transfer fees
We'll automatically reimburse the transfer-out fees charged by your brokerage when you move at least $25,000 to us. Conditions apply.
Even more ways to grow your wealth
Start saving for a better future, together
Open your spousal RRSP without any paperwork or visits to a bank, and start saving up for your retirement now.