With the deadline looming, here are some ways (including a lessor known one) how RRSPs can benefit you and help you decide to contribute. First, the well-known benefit of an RRSP is to provide a completely tax-free rate of return on your net contribution. And unless you’re in the lowest tax bracket, it also means you’ll be taxed at a later date when you withdraw money from your RRSP.

Second, spousal RRSPs provide a way to split more than 50 percent of your pension income with a lower-income spouse. And, if you need to withdraw funds prior to age 65, then that money will be taxed at the lower-income spouse’s rate.

Third, while your RRSP can’t hold real estate, there are two ways it can help with home ownership. If you’re considering this, then it is wise to seek financial advice from your accountant or financial advisor.

Read more: Can I put my mortgage in my RRSP and other burning questions as the deadline looms