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Answering Your RRSP Questions
Answering Your RRSP Questions
October 2013
CONTENTS
What is an RRSP?
Contributing to
your RRSP
Investing and
managing your
RRSP
Making
withdrawals from
your RRSP
Summary
PAR
CDIC
PRPP
DPSP
RDSP
GIC
RPP
HBP
RRIF
LLP
RRSP
LSVCC
TFSA
PA
Pension Adjustment
What is an RRSP?
Year
Maximum
contribution
allowed for the
year
Earned income
required in
preceding year
to make
maximum
contribution
2013
$23,820
$132,333
2014
24,270
134,833
2015
Indexed
Indexed
Based on:
Arises:
Contribution
deductible in
year if made by:
2013
Contribution
2014
Contribution
18% of 2012
earned income
(max. $23,820)
less 2012 PA
18% of 2013
earned income
(max. $24,270)
less 2013 PA
January 1, 2013
January 1, 2014
March 3, 2014
March 2, 2015
Summary
RRSPs are an important and effective way to
save for your retirement. You should take full
advantage of this planning opportunity to ensure
that you have sufficient retirement income in the
future.
Contact your BDO advisor if you have any questions
about your RRSP.