Group Tax-Free Savings Account (TFSA)

We can provide these additional services through other financial services partners. Please contact an advisor at your Caisse populaire to find out more about the following products.

A Group TFSA is a savings plan under which contributions aren’t tax deductible, but whose income, including capital gains, is tax-free, even when withdrawn. This means that the TFSA’s ability to shelter investment income from taxes is comparable to an RRSP or Registered Pension Plan (RPP).

Advantages for your company

  • Available as a stand-alone plan or as an add-on to an existing plan.
  • Flexible and competitive administration and management fees.
  • Simple to manage with fewer administrative tasks.
  • Choice of options for submitting contributions.

Advantages for your employees

  • Annual contribution limit is $5,000 no matter how much is contributed to an RRSP or RPP.
  • Contribution limit is indexed to inflation, in increments of $500.
  • Unused contribution room can be carried forward indefinitely for greater growth potential.
  • Does not affect eligibility for federal plans (Old Age Security and Guaranteed Income Supplement).
  • Withdrawals can be made at any time, tax-free. Amounts withdrawn generate new contribution room for the following year.
  • Contributions aren’t tax deductible but investment income and amounts withdrawn are not taxable.
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