I already contribute via payroll deductions
Since you have already set up RRSP+ contributions via payroll deductions through your employer, you can modify your contribution whenever you wish. Want to save more? Simply change your contribution amount at any time through your online account.
I already contribute via automatic bank withdrawals
If you already contribute to the Fonds via automatic bank withdrawals, you cannot increase the amount of your existing agreement. However, if you are selected through the random selection process, you can set up a new automatic bank withdrawal agreement or make a one-time contribution.
Are you getting the most out of the tax credits specific to labour-sponsored funds?
By registering for our random selection, you could combine this new contribution opportunity with your existing automatic bank withdrawals to reach a total contribution of $5,000, the maximum amount for which you can receive tax credits in 2024.
Example:
- You already contribute $200 per month via automatic bank withdrawal = $2,400
- You contribute a lump-sum amount through the random selection = $2,600
Combined total = $5,000 in contributions
Reminder: The maximum contribution amount eligible for the 30% tax credits specific to labour-sponsored funds is $5,000 per year, per person.[1]