Tax‑smart savings for retirement and education in Ontario.
RRSPs and RESPs are two of the most effective ways to build long‑term savings. Sukhjivan Singh Sidhu helps Ontario families use these plans strategically—so you save with confidence and stay on track.
What Are Registered Savings Plans?
Registered savings plans are government‑registered accounts that offer tax benefits to encourage long‑term saving.
The two most common plans are:
Each plan supports a different goal, and together they create a strong foundation for your future.
RRSP – Registered Retirement Savings Plan
An RRSP helps you save for retirement with tax advantages today and flexibility later. Contributions are tax‑deductible, growth is tax‑deferred, and withdrawals are typically taxed in retirement.
Key Benefits:
You can also access RRSP funds for specific programs, such as:
Tip: Consistent contributions help maximize long‑term growth.
RESP – Registered Education Savings Plan
An RESP helps you save for a child’s education. Contributions aren’t tax‑deductible, but growth is tax‑deferred and typically taxed at the student’s lower rate.
Key Benefits:
You can contribute up to $50,000 per child. If education plans change, options may include transferring to an RRSP (subject to rules).
Tip: Starting early helps maximize grant eligibility and growth time.
Why Choose Sukhjivan Singh Sidhu
Get guidance that’s clear, practical, and tailored to your goals:
Whether you’re planning retirement or education savings, the plan should be clear and realistic.