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* RRSP – Registered Retirement Savings Plans:- This account helps with a tax benefit for retirement savings. Under this account, the individuals can invest and save money for future. * RESP:- The Registered Education Savings Account is tax-free in nature and allows parents or guardians to begin saving money for the education of a child….
RESP – The innovation as well as establishment of Registered Education Savings Plans were purposed to help and support Canadian parents in saving money towards a post-secondary education for their bright children. A Registered Education Savings Plan (RESP) is a sort of savings account that a parent, guardian, grandparent, or any other relative or even…