My retirement and savings
What is a TFSA? A tax-free savings account (TFSA) is a flexible and convenient way to save money, whether you’re saving for the future or just for a rainy day. You can contribute up to $5,500 to your TFSA every year and watch it grow tax-free. Funds can be withdrawn tax-free at any time, and you can carry forward unused contribution room each year. Unlike a pension plan, you aren’t required to start withdrawing from your TFSA at age 71. You can find out more about the TFSA here.