COMMERCE 1E03 Lecture Notes - Lecture 19: Registered Retirement Savings Plan, Registered Retirement Income Fund, Canada Pension Plan
Document Summary
Effective january 2009, tfsa"s became another savings instrument for canadian residents that reached the age of majority in his / her province, has a social insurance. Number: if one was 18 in 2009, the total maximum contributions as of 2017 is 000. Anything that might go into an rrsp can go into it up to the maximum of a year. The interest and income from investment gains accumulates tax-free. Money can be withdrawn at any time without penalty but replacing it must wait until the following calendar year. Pillar 1: old age security (oas) pension program. Pillar 2: canada pension plan (cpp) and quebec pension plan (qpp) Pillar 3: employer pension plans (epps) and registered pension plans (rrsps: epp"s over approximately 38. 4% of working canadians. Leg #1: government sources: old age security (oas) estimated income: 15, canada pension plan (cpp) estimated income: 25% Leg #2: employer sources: company registered pension plan estimated income: 30% to 50%