IFSE Institute LLQP Exam - Topic 3 Question 37 Discussion

Question

(Samuel works for a major company offering a GRRSP and a group TFSA.How do Samuel's contributions to the GRRSP differ from his contributions to the group TFSA?)

Pura · Accepted Answer

B) Samuel's contributions to the group TFSA are made with money already taxed, while GRRSP contributions are deductible.

Pura · Answer

A) Samuel's contributions to the GRRSP are made with money already taxed, while TFSA contributions are deductible.

Pura · Answer

C) GRRSP contributions are subject to an annual limit; group TFSA contributions are not.

Pura · Answer

D) TFSA contributions are deducted from pay each period; GRRSP contributions are made once a year.