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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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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.
  • 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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