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QBS 3 (B)
Tax deferred and After-tax group savings vehicules, Money…
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- DC Désavantages
1) Fall under jurisdiction of min standards
2) Admin costs higher
- DBSP Limit
- ER Tax deductible cont limité au min entre:
1) 50% of money purchase limit
2) 18% pay
- may be further limited because of aggregate cont lim
- **Highlights
1) ER cont are excl. from employment income - no tax
2) ER Cont limited to max RRSP $ limit
3) Vol EE cont allowed subject to RRSP limit
4) No ER-EE relationship required
5) Immediate vesting in ER Cont
6) Transfers btw registred plans are permitted
7) General rules for invest diversfication
8) Decumulaton include RRIF life pmts (unliek RRSP)
9) Deceased PRPP members" spouse can become successor
10) eligible administrator will be regulated financial instut.
11) Admin has fiduciary duties
12) Creation if this plan with fewer than 10 ERs sont surveillé par tax rules**
- Désavantages
1) EE cont not allowed
2) Money might not be used for ret
3) EE may not borrow from fund nor surrender their interest
4) RPPs provide higher tax deduction limit
5) Diff for retirement planning