{"id":22623,"date":"2022-08-29T12:35:10","date_gmt":"2022-08-29T16:35:10","guid":{"rendered":"https:\/\/carleton.ca\/hr\/?page_id=22623"},"modified":"2024-07-28T20:50:27","modified_gmt":"2024-07-29T00:50:27","slug":"group-tfsa","status":"publish","type":"page","link":"https:\/\/carleton.ca\/hr\/benefits\/group-tfsa\/","title":{"rendered":"Group Tax-Free Savings Account (TFSA)"},"content":{"rendered":"\n<section class=\"w-screen px-6 cu-section cu-section--white ml-offset-center md:px-8 lg:px-14\">\n    <div class=\"space-y-6 cu-max-w-child-5xl  md:space-y-10 cu-prose-first-last\">\n\n            <div class=\"cu-textmedia flex flex-col lg:flex-row mx-auto gap-6 md:gap-10 my-6 md:my-12 first:mt-0 max-w-5xl\">\n        <div class=\"justify-start cu-textmedia-content cu-prose-first-last\" style=\"flex: 0 0 100%;\">\n            <header class=\"font-light prose-xl cu-pageheader md:prose-2xl cu-component-updated cu-prose-first-last\">\n                                    <h1 class=\"cu-prose-first-last font-semibold !mt-2 mb-4 md:mb-6 relative after:absolute after:h-px after:bottom-0 after:bg-cu-red after:left-px text-3xl md:text-4xl lg:text-5xl lg:leading-[3.5rem] pb-5 after:w-10 text-cu-black-700 not-prose\">\n                        Group Tax-Free Savings Account (TFSA)\n                    <\/h1>\n                \n                                \n                            <\/header>\n\n                    <\/div>\n\n            <\/div>\n\n    <\/div>\n<\/section>\n\n\n\n<p>The Group TFSA, offered and administered by the Canada Life insurance company, offers full-time or part-time appointments employees the opportunity to make voluntary contributions directly from their financial institution.<\/p>\n\n\n\n<p><strong class=\"myprefix-text-bold\">Note:<\/strong> Carleton University facilitates access to the Group TFSA but does not administer it. The Group TFSA is a voluntary savings program to which Carleton University does not make contributions.\u00a0 Regular contributions are made through your financial institution.<\/p>\n\n\n\n<h2 id=\"group-tfsa-advantages\" class=\"wp-block-heading\">Group TFSA Advantages:<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Canadian residents 18 or older can contribute.<\/li>\n\n\n\n<li>Members can make withdrawals or transfer money from a TFSA anytime.<\/li>\n\n\n\n<li>Annual limits are set by the Canada Revenue Agency; however, unused contribution room is carried forward each year.<\/li>\n\n\n\n<li>Money in a TFSA grows tax-free.<\/li>\n\n\n\n<li>Withdrawals are tax-free.<\/li>\n\n\n\n<li>Each year, any withdrawal amounts get added to the member\u2019s contribution room for the following calendar year.<\/li>\n\n\n\n<li>Withdrawals or income earned from the TFSA won\u2019t affect member eligibility for federal income-tested benefits and credits.<\/li>\n\n\n\n<li>Members can set up regular contributions conveniently through their financial institution.<\/li>\n<\/ul>\n\n\n\n<h3 id=\"member-booklet\" class=\"wp-block-heading\">Member Booklet<\/h3>\n\n\n\n<p>Full details of our member Group TFSA can be found in our <a href=\"https:\/\/carleton.ca\/hr\/wp-content\/uploads\/sites\/16\/Member-Group-TFSA-Booklet-2022.pdf\"><strong>booklet.<\/strong><\/a><\/p>\n\n\n\n<h2 id=\"schedule-of-fees\" class=\"wp-block-heading\">Schedule of Fees<\/h2>\n\n\n\n<p>Details of the fees associated with the Group TFSA plan can be viewed <a href=\"https:\/\/carleton.ca\/hr\/wp-content\/uploads\/sites\/16\/Member-Schedule-of-Fees-Sept-1-2022.pdf\">here<\/a>.<\/p>\n\n\n\n<h2 id=\"need-help-enrolling-planning\" class=\"wp-block-heading\">Need Help Enrolling\/-Planning?<\/h2>\n\n\n\n<p>You may contact Canada Life\u2019s Access Line at 1-800-724-3402 or self book an appointment with a member guide:<\/p>\n\n\n\n<p>Our member guides are wealth specialists available to provide support regardless of your age, or financial expertise. A member guide can help you:<\/p>\n\n\n\n<p>\u2022 Helping you enroll in your group plan<br>\n\u2022 Figure out your investment risk so you can choose funds that work for you and your goals<br>\n\u2022 Understand and optimize what your savings plan entails, putting more money into your pocket or savings account<br>\n\u2022 Move your investments over to your group plan<br>\n\u2022 Make informed decisions about your investment mix<\/p>\n\n\n\n<p>Member guides can also provide support in English, French, Simplify Chinese, Spanish, Hindi and Punjabi language. It\u2019s all part of your workplace retirement and savings program to help you with your financial goals.<\/p>\n\n\n\n<p><a href=\"https:\/\/outlook.office365.com\/owa\/calendar\/CanadaLife_CRM@canadalife.com\/bookings\/\">BOOK NOW<\/a><\/p>\n\n\n\n<h2 id=\"pre-authorized-contributions-guide\" class=\"wp-block-heading\">Pre-Authorized Contributions Guide<\/h2>\n\n\n\n<p>Contributing to your TFSA doesn&#8217;t have to be time a consuming process now with Canada Life&#8217;s pre-authorized contributions system. Check out our step-by-step guide <a href=\"https:\/\/carleton.ca\/hr\/wp-content\/uploads\/sites\/16\/Pre-authorized-contributions.pdf\">here<\/a>!<\/p>\n\n\n\n<h2 id=\"determine-what-type-of-investor-you-are\" class=\"wp-block-heading\">Determine What Type of Investor You Are<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.smartpathnow.com\/content\/dam\/smartpath\/70-0250EL_CL_investment_personality_questionnaire_brochure_FINAL.pdf\">Investment personality questionnaire (CanadaLife)<\/a><\/p>\n\n\n\n<h2 id=\"financial-information-from-canada-life\" class=\"wp-block-heading\">Financial Information From Canada Life<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/ssl.grsaccess.com\/GRSAsset\/media\/177751\/understanding-market-volatility.pdf\">Understanding market volatility (PDF)<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.canadalife.com\/blog\/investing-saving\/what-are-market-cycles.html\">What are market cycles? (article)<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.canadalife.com\/blog\/investing-saving\/understanding-risk-tolerance.html\">Understanding risk tolerance (article)<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.canadalife.com\/blog\/investing-saving\/dont-let-emotions-rule-your-investment-plan.html\">Don&#8217;t let emotions rule your investment plan (article)<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.canadalife.com\/blog\/investing-saving\/how-you-can-deal-with-market-volatility.html\">How you can deal with market volatility (article)<\/a><\/li>\n<\/ul>\n\n\n\n<h3 id=\"commentary\" class=\"wp-block-heading\">Commentary<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.brainshark.com\/1\/player\/grs?pi=zInziFLyYzTlhbz0&amp;r3f1=e8d2acfff3fea6b4e4ee8ce1b8b4bfaaacfcf7c9b0eaf1e8ecf4a2b7cef6e8ece0b3&amp;fb=0\">Understanding market volatility (brainshark.com)<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.brainshark.com\/1\/player\/grs?pi=zIuzvQXMhzTlhbz0&amp;r3f1=a298e6b5b9b4ecfeaef091e0adacb3b9bfaff091bd&amp;fb=0\">How to remain calm in today&#8217;s investment conditions (recording)<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Group TFSA, offered and administered by the Canada Life insurance company, offers full-time or part-time appointments employees the opportunity to make voluntary contributions directly from their financial institution. Note: Carleton University facilitates access to the Group TFSA but does not administer it. The Group TFSA is a voluntary savings program to which Carleton University [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":20548,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_cu_dining_location_slug":"","footnotes":"","_links_to":"","_links_to_target":""},"cu_page_type":[205],"class_list":["post-22623","page","type-page","status-publish","hentry","cu_page_type-benefits"],"acf":{"cu_post_thumbnail":false},"_links":{"self":[{"href":"https:\/\/carleton.ca\/hr\/wp-json\/wp\/v2\/pages\/22623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/carleton.ca\/hr\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/carleton.ca\/hr\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/carleton.ca\/hr\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/carleton.ca\/hr\/wp-json\/wp\/v2\/comments?post=22623"}],"version-history":[{"count":2,"href":"https:\/\/carleton.ca\/hr\/wp-json\/wp\/v2\/pages\/22623\/revisions"}],"predecessor-version":[{"id":22674,"href":"https:\/\/carleton.ca\/hr\/wp-json\/wp\/v2\/pages\/22623\/revisions\/22674"}],"up":[{"embeddable":true,"href":"https:\/\/carleton.ca\/hr\/wp-json\/wp\/v2\/pages\/20548"}],"wp:attachment":[{"href":"https:\/\/carleton.ca\/hr\/wp-json\/wp\/v2\/media?parent=22623"}],"wp:term":[{"taxonomy":"cu_page_type","embeddable":true,"href":"https:\/\/carleton.ca\/hr\/wp-json\/wp\/v2\/cu_page_type?post=22623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}