A decade has passed since the government introduced tax-free savings accounts (TFSAs), giving Canadians a “tax-free” option to save, along with the existing “tax-deferred” registered retirement savings plan (RRSP). TFSAs are popular among all Canadians, but they are particularly suited to modest- and low-income earners.
The same option could – and should – be provided to workplace pension plans. Just as some of us are better off saving in a TFSA rather than an RRSP, some workers (and employers) would be better off with a “tax-free” pension plan than a traditional “registered” workplace plan.
A new paper I wrote , to […]
Full Post at www.theglobeandmail.com