“How does a spousal RRSP work?”
Submitted by: Sasha
Thank you for submitting your question to Re: Investing.
A spousal RRSP is registered in the name of your spouse or common-law partner. They own the investments in the RRSP, but you can contribute to it. You get the tax deduction for any contributions made to a spousal RRSP but any contributions you make reduce your own RRSP deduction limit for the year. They won’t affect how much your spouse can contribute to their own RRSP.