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RRSP Intro & Definitions

RRSP Introduction and Definitions


  • For full-time owners, trainers, assistant trainers, drivers, breeders and caretakers/grooms
  • Savings for retirement
  • Tax deductible contributions
  • OHHA also contributes on your behalf
  • Contributions up to Income Tax Act (Canada) allowable maximums
  • A choice of quality investments


This information has been prepared to provide you with a summary of the essential features of the benefits you will be entitled to upon enrolling in the Ontario Harness Horse Association Group Retirement Program.

This is provided to you on the express understanding that it is not a contract and does not grant or confer any contractual rights.

All benefits under this program will be subject to the provisions of and administered according to the OHHA Plan Policies and the Income Tax Act and its regulations. The OHHA Plan Policies are available on the OHHA website, and by request from the OHHA office.

While the Plan Administrator needs certain information to properly manage and administer our plan, they only collect the information that is absolutely necessary for these purposes. Under no circumstances will they provide your information to third parties for marketing purposes.

The Program is administered in accordance with OHHA’s Privacy Policy, available from the OHHA office or on the OHHA website, and the Plan Administrator’s Privacy Policy, available from them, or on their website.


Various terms are used in this section. Here is a brief explanation of some you will see:

Account Balance

  • All OHHA and member contributions made to the program on your behalf, together with their earned investment income.


  • An income payable in monthly installments, generally for your lifetime. Various guarantee periods are available.


  • Basic earnings from all sources of employment which are eligible in calculating your “RRSP contribution limit”.


  • An eligible individual who has joined this program.

Racing Industry

  • The Standardbred industry.

Registered Retirement Income Fund (RRIF)

  • A RRIF is available as an alternative to a life annuity for registered funds. This type of vehicle provides a more flexible retirement income than a life annuity. There is a minimum amount that must be withdrawn each year.