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Educators: think topping up your RRSP is a good idea? Think again!

For those of you feeling the pressure of the looming RRSP deadline we say, stop. Do not pass go. Do not top up your RRSP – at least before learning about an important detail, specific to education members.

Retirement gratuity + RRSP contribution room = keep more money, pay less tax…

“If you’re an education member who is expecting a gratuity from your school board upon retirement, the above equation is simple”, says Educators Financial Advisor Chris Tamber. “Not rolling your gratuity into an RRSP creates extra taxable income, which is taxed at your marginal tax rate or top dollar earned.”

Educator-specific insight = strategic solutions for achieving your financial goals…

While other institutions may be telling you to ‘top up’ your RRSPs, Educators Financial Group invites you to speak to one of our financial specialists first. Since we have a long history working exclusively with the education community, we understand the financial areas that are unique to you – such as your pay structure, pension plan, and retirement gratuity.

More importantly, we offer educator-specific solutions to help you take on your financial challenges and achieve your financial goals – no matter where you are in your career, or in life.

Do you have enough RRSP contribution room? Let’s meet and discuss.


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