This is what is published on web pages selling the RRSP benefits.

The false message hammered home from all the following sites is
1)  The tax reduction on contribution is a benefit.
2)  Growth within the plan is only tax deferred, not tax free. It is fully taxed on withdawal.
3)  There is a benefit from the deferral of the tax on the original employment income.
4)  Tax rates will be lower on withdrawal.
All those claims are false.


Advantages of RRSPs
* a reduction in annual taxable income during high taxation years through annual tax-deductible contributions.
* accumulation of funds for retirement or some later time with the funds compounding earnings on a tax-free basis.
* deferment of some income taxes until later years when the holder is presumably in a lower tax bracket.

Even Americans get this wrong. Betterment is a robo-advisor selling Asset Location as a customer benefit ... even after being advised of its error.