Sheltering your income from tax is a good idea and the magic of compound interest will work to your advantage over time. Every dollar you invest in an RRSP gives you tax savings today and retirement income tomorrow. There are contribution limits and time considerations for conversion to another retirement option. RRSPs are used by millions of Canadians to build their nest egg and, at VPCU, you can choose investment options like a variable rate savings account, term deposits and mutual funds.