Whether a plan member is saving for an emergency fund or for retirement, a Tax-Free Savings Account (TFSA) is a great way to help stay on track with their saving goals, even during these uncertain times. This year’s TFSA campaign starts in August* and the contribution limit for 2020 is $6,000. Plan members will receive personalized emails from Ella, Sun Life’s digital coach. These emails will invite members to enrol and contribute to their TFSA.
*Note: all plan sponsor exclusions will be honoured.
Timing
The campaign will run between August 17 and September 18, 2020.
In addition, we’d like to share our newest Bright Paper called ‘A TFSA: 12 years on and growing strong’. 2020 marks the 12th year of the TFSA and more than 14 million Canadians have a TFSA account, representing $275 billion in savings.
This bright paper explores the advantages of a TFSA, an analysis of how they’re used in group plans and the benefits to employers.
To read or download a copy of the Bright Paper, please click here.
Questions?
Contact your Sun Life Group Retirement Services representative
