The Canadian government offers plenty of incentives for long-term savers, including couples saving for retirement. Sure, both of you can still open your own individual Registered Retirement Savings Plans (RRSP). But if you are looking for a way to manage your tax bill as a couple, as well as build a bigger nest egg for your partner, spousal RRSPs can make a lot of sense. Here’s what you need to know about using this tool.What is a spousal RRSP?A spousal RRSP is a qualified retirement savings plan that you set up for your partner. You are able to make contributions to the RRSP, however, your spouse is the actual owner. The point of the spousal RRSP is to help you even out any gap in income between the two of you during retirement, while allowing you a tax break right now.So you can contribute to the RRSP and receive the tax deduction today. During retirement, your partner withdraws the money and pays the income tax that results from the withdrawal.Who would benefit from a spou
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