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Retirement

Learn about Canadian retirement plans including the RRSP, CPP, OAS, TFSA, workplace pensions, and more.

Latest in Retirement

image showing a retired man with his benefits from canada pension plan and old age security

How Much Will CPP and OAS Increase in 2023?

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by Enoch Omololu, MSc (Econ)

Canada Pension Plan (CPP) and Old Age Security (OAS) benefits are adjusted yearly to reflect changes in the cost of living or inflation. Also referred to as the Consumer Price …

image showing elders sitting on coins thinking about their rrsp contribution limit

What is my RRSP Contribution Limit in 2023?

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by Enoch Omololu, MSc (Econ)

The registered retirement savings plan (RRSP) contribution limit for 2023 is $30,780, up from the $29,210 amount in 2022. If you have carried forward an RRSP contribution room from 2022, …

Text that reads “Can You Have Multiple TFSA Accounts?” below an image of someone pressing buttons on a calculator

Can You Have Multiple TFSA Accounts?

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by Enoch Omololu, MSc (Econ)

If you are wondering whether you can have multiple TFSA accounts, the answer is ‘Yes.’ Canadians can open several Tax-Free Savings Accounts (TFSA) simultaneously and remain in good standing with …

Do You Pay Taxes on RRSP After Age 65

Do You Pay Taxes on RRSP After Age 65?

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by Enoch Omololu, MSc (Econ)

Registered Retirement Savings Plans (RRSPs) are one of the main investment accounts Canadians use to save for retirement. While an RRSP grows tax-free during your accumulation years, taxes become due …