Employee’s Tax Free Savings Account (TFSA) module

Tax Free Savings Account (TFSA)

The collective TFSA in and of itself is not a pension plan, but it can be an interesting complement to a pension plan. Indeed, it facilitates additional savings for projects in the shorter term or in addition to retirement.

Advantages

• Easily complements the existing group plan
• It provides opportunities for employers and employees to contribute
• Funds may be withdrawn without tax consequences at any time
• Easy to manage for the employer
• Allows personalization of each plan depending on employee preferences.