Overview

A Tax-Free Savings Account is a flexible, registered general-purpose savings vehicle that allows Canadians to earn tax-free investment income to help meet their savings goals. A TFSA complements existing registered plans such as a Registered Pension Plan (RPP) or a Registered Retirement Savings Plan (RRSP).

Non-Registered Savings Plans are designed to help individuals save for short-term and/or long-term goals (such as education, vacation or purchasing a home) or to supplement retirement income.