Group TFSA program
A Group Tax-Free Savings Account (TFSA) program is a collection of individual TFSAs administered by your employer. You make contributions to your TFSA directly from your paycheque.
Features and benefits:
- Convenient deposits through after-tax payroll deductions
- Tax-free growth on investments
- Tax-free withdrawals anytime (subject to product restrictions and potential withdrawal fees)
- Available for any purpose…not just retirement
- No age limit for setup or required age for withdrawal
- Carry forward options for unused contributions
- No impact on federal income tested programs (e.g., OAS, Canada Child Tax Benefit, Guaranteed Income Supplement)
- Easy access to a qualified Servus financial advisor to help you build a personalized financial plan
- Semi-annual or quarterly statements to keep you informed about savings performance
- Access to quality financial planning tools