Registered Retirement Savings Plan is a government-approved plan through which you save money for your retirement years.
Your contributions (within limits) are tax-deductible, and the income you earn is tax-sheltered, meaning you're not taxed on your RRSP until you withdraw from it at retirement.
And, by saving sooner rather than later, you can considerably reduce the amount you need to save each month to reach your retirement goal. So, contributing during your peak earning years and starting early are important!
It's never too late to save for retirement!