Spousal Registered Retirement Savings Plans must not be universally understood by investors, because they are not utilized to their maximum benefit. These financial vehicles were designed to encourage retirement savings with tax breaks at the time of contribution and at the time of withdrawal, just like regular RRSPs.
Spousal RRSPs contain additional advantages for couples who have a partner earning a higher income than the other. Equalizing retirement income between partners can reduce overall household taxes.
