Important features of a registered retirement savings plan

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Leah is thinking about her retirement and is trying compare the important features of a Registered Retirement Savings Plan (RRSP) and a Registered Retirement Income Fund (RRIF). Her daughter (who does not know much about the differences herself) has prepared some statements for her mother to read, Which of her daughter's statements is correct?

1.The choice of investment options for money inside an RRSP and a RRIF are generally quite different

2.An important benefit of having an RRSP and a RRIF at the same time is the ease of transferring money back and forth between the two accounts

3.When an annuitant decides to collapse an RRSP account, the money must flow into a single RRIF account

4.Investment earnings with both an RRSP and RRIF grow tax-sheltered inside the account

Reference no: EM132899842

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