TFSA campaign: encouraging members to take action

May 12, 2023

A Tax-Free Savings Account (TFSA) is a great way for plan members to save for goals, both big and small. It allows plan members to invest their money without paying taxes on income earned or withdrawals made.

The 2023 TFSA contribution limit is $6,500. Any unused contribution room gets carried forward. If money is withdrawn, that amount is added back to the contribution limit the following year.

Why is it important? 

Saving money isn’t always easy when the cost of everything seems to be going up. However, a Tax-Free Savings Account could be a great place to save additional income, such as a tax refund or bonus. They really couldn’t be much more flexible.

The Campaign

The theme for this year’s campaign will centre around the flexible way you can save with a TFSA. Plan members will receive personalized emails that will invite them to enrol and/or contribute to their TFSA. Key messaging will focus on how a TFSA can help them:

  • Tuck away their savings for any goal, big or small. 
  • Use their TFSA towards a down payment on a home. 
  • Save for a rainy day and much more. 

Timing

The campaign will run between May 23 and June 30, 2023.

Questions?

Contact your Sun Life Group Retirement Services representative.