根据加拿大国税局CRA的规定，注册退休储蓄计划RRSP 的持有人可以在任何时候提取RRSP里的储蓄，但必须按当年收入打税。而当账户持有人满 71 岁的生日前， RRSP账户必须关闭。 RRSP账户关闭后，可以选择一次性提取所有积蓄，购买终身年金 (Life Annuity) ，或将账户里的储蓄转移至注册退休入息基金 (Registered Retirement Income Fund – RRIF) 账户内等方式。
一次性提取所有积蓄
从RRSP账户内提取的每一分存款，都会被计算为该年度的个人收入来打税，如果您账户里的存款庞大，将会交付一笔很大的税金，税率最高达53.53%（安省 2017）。另外您收入的多寡，会影响您领取的政府退休金(CPP)、老年保障金(OAS)，低收入补助金（GIS) 等的收入。
终身年金 （Annuity）
终身年金一般是向保险公司购买，由RRSP提取款项购买年金，会作为那年的收入打税。年金的主要好处是保证特定期限或终身的每月定额收入，不会受到投资回报波动的影响，因此退休人士无须担心在世时会耗尽所有退休储蓄；坏处是收入缺乏弹性。
终身年金的收入多少，与购买时的利率挂钩，购买时利率越高，收入就越高。如果购买时的利率偏低，而利率是处于上升通道的，可以考虑分开不同时间段购买，比在利率低的时候大额购买多的收入更高。另外一些年金提供周期性的利率调整，在利率上涨时，会对购买人有利。在购买年金时，还可以加入通货膨胀指数（CPI）条款，年金收入可以根据通货膨胀指数（CPI）调整，不过因为加入通货膨胀指数（CPI）条款，费用相应会增加。
注册退休入息基金RRIF (Registered Retirement Income Fund)
RRSP计划里的储蓄可以免税的转移到RRIF户口内，RRIF跟RRSP一样，容许账户持有人进行合资格的投资，如股票，债券，互惠基金、定期等，而投资收入在账户内可以继续延税。跟RRSP不同之处是RRIF只准许提款，且每年有指定的最低提款百分比，提款率随着计划持有人的年龄增加而增加。
当账户持有人去世时，账户里的储蓄会视为卖出，而作为持有人去世那年的收入，如果您账户里的剩余金额庞大，将会是一笔很大的税务负担。如果账户有指定的受益人：
1. 受益人是配偶的话，账户里的余款可以免税的转移给在世的配偶；
2. 受益人是账户持有人的未成年子女，可以免税的转移到他（他们）的注册退休储蓄计划RRSP里，或者可以购买定期年金，还可以减少省府的遗产认证费（Probate Fee），大概遗产的1.45%。
由于每个人的情况，资产的多寡都不同，所以，不能简单的比较哪个计划的优劣。要根据持有人的入息要求，税务规划，资产的转移和保险的配合来做一个全面的计划。
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