© Sira Jantararungsan / 123RF Stock Photo Policymakers should create a new retirement savings vehicle — tax-free pension plans (TFPPs) — as a way of enabling more middle- and lower-income workers to prepare themselves for retirement, suggests new research from the National Institute on Ageing (NIA) at Ryerson University.
A paper published on Tuesday said TFPPs would function like TFSAs in that they would be funded by after-tax dollars, but they would grow tax free, and investment gains would not be considered taxable income on withdrawal.
“This means pension income from TFPPs would not be considered when determining eligibility for federal […]
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