Every year near tax time, Canadians are encouraged by their banks to contribute to their RRSP accounts in order to save for retirement while getting the upfront benefit of a tax break – which may result in a sizeable income tax refund. However, many people have no idea what their RRSP deposits are invested in, or how their investment will perform in the long-run. Will there be enough funds at retirement? In many cases, RRSPs end up being invested in mutual funds that underperform the market due to heavy management fees which ultimately reduce your RRSP savings.