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The minimum age at which someone can open an RRSP is

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User Asp Asp
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1 Answer

3 votes

Final answer:

The minimum age for opening an RRSP is 18 years old, but individuals can accumulate contribution room prior to this age based on employment income and tax filings. Contributions can then continue until age 71.

Step-by-step explanation:

The minimum age at which someone can open a Registered Retirement Savings Plan (RRSP) in Canada is 18 years old. However, one can accumulate RRSP contribution room before that age, starting from the age when they begin earning employment income and filing a tax return in Canada. It is worth noting that while 18 is the minimum age to open an RRSP, the plan holder can continue to contribute to their RRSP until December 31st of the year when they turn 71 years of age.

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User Sheba
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