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In the Tuesday, May 13, 2008 edition of the Toronto Star, reporter James Daw cites the findings of Finn Poschmann, Director of Research at the C.D. Howe Institute and Jon Kesselman of Simon Fraser University in an article on how RRSPs and pension plans can deprive seniors of low-income benefits. Poschmann states that by contributing to a traditional RRSP, a senior could lose 50 cents per dollar of the Guaranteed Income Supplement, which Ottawa pays to top up payments from Old Age Security and the Canada Pension Plan. The advantage of income from the tax-free savings accounts is that it will not be taxed, nor will it be counted in determining eligibility for benefits. For a low-income earner in Ontario, $5,000 contributed over one or more years to a tax-free savings account can produce as much income in retirement as contributing $6,337 to an RRSP, and claiming a $1,337 tax refund. The Toronto Star. Tuesday, May 13, 2008. Page: B06. Section: Business. Byline: James Daw. Source: Toronto Star.