| Acronym | Definition |
| DPSP | Deferred Profit Sharing Plan. Used by employers to encourage company loyalty and . productivity by sharing some of the profits of that company with employees. |
| GIC | Guaranteed Income Certificate – pays a set interest amount for a set length of time. |
| GIS | Guaranteed Income Supplement. A benefit for low income seniors to help bring . . . . . them up to a minimum standard of living – recipients also qualify for a medical card |
| OAS | Old Age Security. A resident of Canada for over 40 years at age 65 qualifies for the |
| RDSP | Registered Disability Savings Plan. Introduced in 2008 to help save for the long . Term financial security of severely disabled individuals |
| RESP | Registered Education Savings Plan. The 2008 budget extended the saving time from 21 years to 31 years and the length of time it can stay in place is now 35 years |
| RRSP | Registered Retirement Savings Plan. You get an income tax deduction when you deposit to it, but you pay taxes on withdrawals. Withdrawals also affect other government benefits such as GIC and OAS |
| RRZ | Retirement Risk Zone - This is the serious impact a drop in investment value up to 5 years prior to retirement and for at least 5 years after |
| TFSA | Tax Free Savings Account. You can deposit up to $5,000 a year (regardless ofincome) into investments similar to RRSPs but there |