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Group Tax-Free Savings Account (TFSA)

Group TFSA payroll deductions allow your employees to save for any purpose while earning investment income tax free. The Group TFSA is available to any Canadian resident age 18 years or older.

  • Invest in either our Tax Free Growth Account or Servus Credit Union guaranteed investment certificates
  • Withdraw funds at any time (provided the chosen investment option does not restrict withdrawals)
  • Withdrawn amounts are not reported as taxable income or subject to income tax
  • Withdrawn amounts do not impact eligibility for federal income tested benefits and credits
  • Withdrawn amounts will increase contribution room for the following year
  • Unused contribution room accumulates each year and can be carried forward indefinitely (from 2009)
  • No maximum age limit to open or hold a Group TFSA

Features:

  • Investment and retirement planning with one of our accredited financial advisors
  • Tax savings on interest earned
  • Access to quality retirement and investment planning tools
  • Access to Servus Credit Union guaranteed investment certificates
  • Semi-annual or quarterly statements to keep members informed about account performance

Benefits:

  • Providing employee benefit options aids in recruitment and retention
  • There are no direct employer costs to administer the program
  • We offer your employees educational seminars on a variety of financial topics, based on their needs

TFSA contribution limits

Year Contribution limit
2017 $5,500
2016 $5,500
2015 $10,000
2014 $5,500
2013 $5,500
2012 $5,000
2011 $5,000
2010 $5,000
2009 $5,000
TOTAL $52,000



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*Servus Wealth Strategies Ltd. is a subsidiary of Servus Credit Union Ltd. offering financial planning, life insurance and investments. Mutual funds are offered through Credential Asset Management Inc. and mutual funds and other securities are offered through Credential Securities Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, cash balances, mutual funds and other securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer which insures deposits in credit unions. Mutual funds and other securities are not guaranteed, their values change frequently and past performance may not be repeated. Credential Securities Inc. is a Member of the Canadian Investor Protection Fund.

®Credential is a registered mark owned by Credential Financial Inc. and is used under licence.

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