TFSA and RRSP retirement contributions

What account is best for retirement savings?

Common Good Plan includes both a Tax-Free Savings Account (TFSA) and the Registered Retirement Savings Plan (RRSP). Both accounts help Canadians save, and both have limits to how much you can contribute each year. But there are important differences between the two in terms of how much you can contribute, when taxes are applied, and how they impact government benefits for modest income earners.

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