If i remember correctly the Canadian system for this seems sensible; there is a tax deferred account but you can pull it out at any time without additional pena

If i remember correctly the Canadian system for this seems sensible; there is a tax deferred account but you can pull it out at any time without additional penalty (you pay income tax of course). I think you can't put it back in though. At some age (70ish?) you have to start taking it out somewhere in the 5-10% range.