COMMERCE 1E03 Lecture Notes - Lecture 19: Registered Retirement Savings Plan, Registered Retirement Income Fund, Canada Pension Plan
9 Apr 2017
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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 Money can be withdrawn at any time without penalty but replacing it must wait until the following calendar year.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%
