2020

June 29, 2020

Announcing a new RRSP and TFSA Contribution limits page

We are pleased to announce the launch of our new contribution limits page on mysunlife.ca. We have added a number of features that allow us to help your plan members track their contributions and stay within their personal limit.

 What’s new

  • A new look and feel that aligns with our brand and meets Accessibility Guidelines
  • The ability to collect members’ RRSP and TFSA contribution limits
  • A view of their year-to-date contribution amounts
  • A progress bar that compares year-to-date contributions against their current limit

In addition, proactive email alerts will be sent to plan members to help them monitor their contributions.

How it will work

Plan members can provide us with their personal contribution limits; otherwise, we’ll use their plan’s default. If they provide us with a validated email address, we’ll send them email notifications (e.g. when they are close to, reach or exceed their limit). In addition, we’ll send them a reminder to update their contribution limits each year.

All emails will include a direct link to the contribution limits page. Therefore, once a plan member receives an email notification, they’ll be able to go directly to their contribution limits page, once logged in and change the limit or adjust contributions according to their financial plans.

We’ll also add a message in the message centre on mysunlife.ca to provide your members with timely information on these new features. It will invite plan members to visit the contribution limits page and update their information related to their contribution limits and relevant email.

Reminder: plan members are responsible for monitoring their contribution limits set out by Income Tax Act (ITA), monitored by the Canada Revenue Agency (CRA).

Below you will find flyer(s) to help you promote these new features to your members:

RRSP plans only: download flyer

TFSA plans only: download flyer

RRSP and TFSA plans: download flyer

If you have questions, please contact your Sun Life Group Retirement Services representative.