Is an RRSP Halal?

Yes, an RRSP can be halal. The RRSP itself is only an account; what makes it halal or not is what you hold inside it.

The tax deduction and refund you get for contributing are not interest, so they don't raise a Shariah concern. The problem is the default holdings. Many bank RRSPs hold GICs, bond funds or mutual funds that were never screened. Those earn interest or own businesses Islam prohibits. When the holdings inside are Shariah screened, the RRSP works for you like it does for anyone else: tax savings now, growth sheltered until retirement.

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