How many different types of RRSPs are there?

There are four types of RRSP's:

• Self-directed RRSP: It gives you the freedom to build and manage your investment portfolio.
• Regular RRSP: The contributions are made to your plan. The funds are not operated by an individual but by financial institutions or investment consultants and planners.
• Spousal RRSP: The spouse with a higher income can contribute to their spouse's RRSP plan up to their own limit, and the contributing spouse can claim the deduction. The object is to shift the RRSP assets into the hands of the lower-income earner so that, at retirement, the income from the plan is taxed at a lower marginal rate, resulting in tax savings.
• Group RRSP: It is a collection of individual RRSPs and there are certain conditions with regards to eligibility and withdrawl of funds.In a group RRSP total amount contributed can not be exceeded maximum than your RRSP deduction limit from your Notice Of Assessment.