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GLOSSARY
Canadian Financial, Real Estate and Mortgage Glossary
How often this word is used
^
38% - Moderately
38% - Moderately
Active Participant
Synonyms: | beneficiary, grantee, recipient |
Filed Under: | financial-banking |
Tags: | banking |
Definition of active participant
- active participant
- 1. Refers to an individual who chooses to participate in an employer's retirement plan.
Related Terms and Acronyms:
- empty nesters Men or women whose children have grown up and moved out and who might be in the market for a smaller house.
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Registered Retirement Savings Plan (RRSP)
A savings plan introduced by the federal government to encourage Canadians to save money for retirement. The investment and the interest earned on it is sheltered: it will not be taxed as long as it is left in the plan.
➥ Tax deferred investment contribution used to reduce income tax. - reverse mortgage A loan that allows an older homeowner to convert built-up equity into cash. The loan comes due when the owner dies, sells the house or moves out.
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