Sometimes when investing or saving comes up in the conversation with people I know I am amazed at how little familiarity they have with anything related to it. For example, a friend mentioned giving money to his RRSP. I asked, what is it in? He answered, his RRSP. But what is in the RRSP, I asked. He seemed confused. He's not alone. A surprising number of people seem to think an RRSP is some kind of savings investment. It's just an account. You can put money into it, or mutual funds (if you're an idiot) or ETFs or stocks or just about anything.
If you go to a bank, like most Canadians, and ask them to set up an RRSP they will almost certainly set one up with their own mutual funds, and your donations every month or once a year, will automatically go into those mutual funds. Banks love mutual funds. They get a huge share of any profit, but take no risks. Canadians pay higher mutual fund fees than anyone on Earth, way higher. That's partly why the banks are so rich. Never let a bank set up your RRSP without clear instructions on where your money goes, instructions based on the advice of someone whose own self interest isn't impacted by the decisions you make.