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From: manis@ubc-cs.UUCP (Vince Manis)
Newsgroups: can.general,net.taxes
Subject: Re: Get an RRSP
Message-ID: <954@ubc-cs.UUCP>
Date: Mon, 18-Feb-85 11:21:55 EST
Article-I.D.: ubc-cs.954
Posted: Mon Feb 18 11:21:55 1985
Date-Received: Wed, 20-Feb-85 18:00:02 EST
References: <395@lsuc.UUCP> <11478@watmath.UUCP>
Reply-To: manis@ubc-cs.UUCP (Vince Manis)
Distribution: can
Organization: UBC Department of Computer Science
Lines: 17
Summary: 


I absolutely agree on the desirability of RRSPs. They not only provide
a good return, but they also act to provide retirement income. In that
way, they are a good instrument of social policy, as they encourage 
people to do retirement planning earlier. I'm less enthusiastic on RHOSPs
(I don't have one), because of the manifold limitations such a plan
has to have in order to avoid misuse.

I want to put in a plug for daily-interest RRSPs. These are basically
just savings accounts, with the proviso that they're registered with
Revenue Canada. There's no minimum deposit, and no charges, making them
ideal for depositing little bits of money on a very regular basis. 
Mine is with the T-D, and it's even on my Green Card, so I can make
a deposit at an ATM. (One has to be careful to avoid overdepositing,
though...). The interest is very comparable to that of a regular
savings account, but you can transfer money to any other variety of
RRSP (such as a term deposit RRSP) at any time.