A TFSA (Tax Free Savings Account) is an investment account that lets you earn interest on your money, and withdraw funds, free of tax. This year, you can contribute up to $6,500, the TFSA dollar limit for 2023.

You can do anything with a TFSA – withdraw money to contribute to your RRSP, set aside emergency savings, use it as retirement income, cover living expenses during parental leave – the possibilities are endless.

Benefits of a TFSA

Tax-sheltered growth: You don’t pay tax on any interest, dividends, or capital gains your investments earn.

Worry-free withdrawals: Withdraw as much as you want, any time, without paying tax on it.

Customized savings: Build a TFSA that fits your goals from a wide range of investment and savings options – including GICs, bonds, and ETFs.

 Contact A PACE Member Service Representative to discuss your TFSA today!