I'd double-check the RRSP advice here with a tax accountant or an RRSP provider. Of course, it's very possible that the rules have changed in the last decade, but I certainly opened and contributed to an RRSP while on a TWP (I too came over on an intra-company transfer) before getting PR. You can't make contributions until you've filed your first tax return, because that's what sets your contribution limit, but unless something fundamental has changed there's no reason that you cannot open an RRSP with a temporary SIN.

Why would you want to contribute to an RRSP unless you know that you are going to become a permanent resident and remain in Canada? You may not be able to take it out of the country without penalties and taxes if you leave.

https://www.canada.ca/en/services/ta...ion-plans.html


https://www.canada.ca/en/revenue-age...#nn_rsdnts_Cnd

Suppose my marginal tax rate is 50%. I work for a year in Canada and put $10,000 in a RRSP, that's $5,000 in tax I haven't paid. I don't get PR and have to leave the country. The next year I collapse the RRSP and pay tax at my marginal rate in that year, 0%. I'm slightly ahead. At least, I think that's how it works.

It's not. There is always withholding tax of 25% on any RRSP withdrawals. That will remain in Canada and, as one would not be filing a tax return in Canada, it will remain here. I accept that the tax paid to Canada can be used to offset any tax payable in the UK, and the OP's circumstances would dictate whether they were ahead, or behind.

Well, the 25% withheld is less than the 50% that would have been paid and the 25% can be offset against other taxes so I think that's a win but then I collapsed my RRSP to pay my divorce lawyer so I've no doubt you're better at this game than I am.