TFSA stands for the Tax Free Savings Account Anyone can have an account—almost: Any Canadian resident over 18 years old can contribute to a TFSA. Annual limit: In 2022, the contribution limit for TFSA is $6000. For this year, your cumulative contribution limit is $81,500. Withdraw funds with ease: Unlike an RRSP, a TFSA [...]
Some members might not be sure about how Individual and Group RRSPs work. Here's a quick refresher sourced from the Canada.ca website: The Registered Retirement Savings Plan helps you save for retirement during your working years You can contribute 18% of your previous year’s income (total limit for 2020 is $27,230). The amount that [...]
Summary for July 2021 Presented by Mackenzie Investments Click here to read more.
CEIRP keeps growing which means we can all enjoy lower investment management fees! When the plan started in 2004, fees were 1.1%. After six reductions, the fees will now be reduced by .5% to .48% — a 56.4% reduction since our inception. This change applies immediately to the RRSP, NRSP, TFSA and the RRIF/LIF. [...]
We can all agree that it’s been a long year and a half for everyone. As each day passes, the sense of renewed freedom is spreading across the country. Despite that, many of the local summertime events have been cancelled again this year. So, what can you do in your own backyard that will [...]
2021 capital markets mid-year in review Presented by Mackenzie Investments Click here to read more.
We can all agree that this school year has been challenging and unpredictable. With so much uncertainty, it may seem ridiculous to even make plans for the next school year. But, things are looking up and September will be here soon enough, so it may be safe to start thinking ahead. And when it [...]
We’re always looking for new ways to help you save for tomorrow. Now you can save for a child’s education by opening a Registered Education Savings Plan (RESP). Click here to learn more.
Gentle reminders: RESPs are now available through CEIRP. Click here to learn more. If you're looking to make any changes to your RRSP contributions, contact your Group RSP Administrator The CEIRP website is your first stop to find information and other resources about the CEIRP plan. Be sure to visit it often for up-to-date [...]
