Using your savings

You may sometimes need to use your savings to carry out projects that are important to you or to get through difficult financial times.

Options available


Learn more about the options available to you:

  • Using my savings during employment
    • Registered retirement savings plan
      • RRSP and SPP-RRSP
    • Tax-free savings account
      • TFSA and SPP-TFSA
    • Non-registered account
      • NREG and SPP-NREG
    • Deferred profit-sharing plan (DPSP)
FIND OUT ABOUT OTHER APPLICABLE PLAN RULES

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Alfred’s tip

Unless your RRSP withdrawal is made under the Home Buyers’ Plan or the Lifelong Learning Plan, make sure you understand the tax implications. Even if you replace the money later, you will have lost your contribution room.

Visit the Canada Revenue Agency’s website for more details.