Non-Registered Savings Plans (NRSP) for Canadian employers
A Non-Registered Savings Plan (NRSP) lets employees keep saving through payroll beyond the limits of registered plans. It is most useful for higher earners who have already used their RRSP and TFSA room. LINK administers and keeps the records for NRSPs on the same platform as your registered plans.
What LINK handles, and what stays with you
LINK handles
- Recordkeeping for each member's non-registered account alongside their other plan accounts
- Contribution processing through payroll
- A suitable ETF portfolio based on each member's risk profile
- Member access to balances and contributions in one place
- Member support for account and investment questions
Your organization
- Decide which employees the plan is offered to
- Run payroll deductions
- Share plan information with eligible employees
NRSP essentials
General information only. Rules and limits can change each year; confirm details with your plan specialist.
NRSP questions, answered
What is a Non-Registered Savings Plan (NRSP)?
An NRSP is a workplace investment account outside the registered plan system. Employees contribute after-tax money through payroll, without the contribution limits that apply to RRSPs and TFSAs.
Who should use an NRSP?
Mostly higher earners who have already used their RRSP and TFSA room and want to keep saving through payroll. Most employees are better served filling registered room first.
How is an NRSP taxed?
Contributions get no tax deduction, and investment income and gains are taxable as they are earned or realized, rather than sheltered as they are in an RRSP or TFSA.
Ready to modernize your workplace savings?
Connect with a LINK plan specialist to find the right solution for your organization.