Non-Registered Savings Plan (NRSP)

An NRSP is another savings account that you can use at anytime.  This type of plan is governed by the Income Tax Act (ITA).  This type of plan is a non tax-sheltered product without contribution limits. You can withdraw your account balance at anytime and taxes are not withheld.  If you should die, your account balance can be paid out in a lump sum to a designated beneficiary.