I already have a TFSA and/or RRSP. Does contributing to the Common Good Plan have any impact on my existing TFSA or RRSP?

The government allows you to hold multiple TFSA and RRSP accounts. This means that it’s up to you to determine what happens to any other TFSA or RRSP accounts you hold. You can choose to transfer all of your funds into your new Common Good account (done directly within the platform) or keep them where they are.

If you wish to consolidate your RRSP and TFSA savings in the Common Good Plan, you can initiate a transfer from your account, and our team will take care of the rest. A direct transfer has no impact on your contribution limits or tax implications.