2010 RRSP Quick Facts and RRSP Exit Strategy

Dear Brother Knight,

Please take note:

a) 2010 Contribution Deadline : MARCH 1, 2011

b) The maximum RRSP contribution is the lesser of

  • 18% of earned income from 2009;
  • $22,000;
  • the remaining limit after any pension adjustment (PA) from registered pension plan contribution.

Note that the exact contribution limit for 2010 will be indicated on each taxpayer’s 2009 Notice of Assessment (NOA).

Just as important as having a plan for contributing to your RRSP is having an RRSP exit strategy — that is, having a plan that would avoid forced withdrawals and inefficiencies in taxation.

To open an RRSP account (or continue contributing to an existing account) with the Order, or to determine an appropriate strategy for RRSP withdrawal, please give me a call at 778-837-2317.


Jose P. Cabalu, FIC, RHU
Knights of Columbus Field Agent


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