However, if you are selected, certain rules will apply depending on your age and the savings vehicle you choose.
As of age 65:
Starting in the year you turn 65, you're no longer eligible for labour-sponsored fund tax credits. This means you won't be eligible for the additional 30% in tax credits.[1]
Aged 71 or younger on December 31 of the current year:
You can contribute to your own RRSP+ or your spouse's RRSP+ by subscribing to Fonds shares if your RRSP deduction limit allows. Alternatively, you can contribute to a non-RRSP+ account by subscribing to Fonds shares.
Over 71 years old on December 31 of the current year:
You can no longer contribute to an RRSP+, but you can contribute to your spouse's RRSP+ by subscribing to Fonds shares until December 31 of the year in which your spouse turns 71, if your RRSP deduction limit allows.Alternatively, you can contribute to a non-RRSP+ account by subscribing to Fonds shares.