What's the Difference Between Registered and Non-Registered Savings Plans?

Non-registered accounts are not registered with the Canadian government, while registered savings plans have tax advantages specified by the federal government and set out in the Income Tax Act (Canada). Both types of savings accounts are offered by Canadian banks, mutual fund companies, and financial advisors. Both offer valid reasons to be part of your overall financial savings strategy.

There are different tax implications for each type of account:

When are non-registered investments accounts a good idea?

Always seek advice from your financial planner. If you are a member of one of the BC Public Sector Pensions plans, you can see what the Pension Corporation says about your situation. Their pages provide a detailed summary of your options.