Darryl wants to contribute $8,000 to his new First Home Savings Account (FHSA) and decides he wants to transfer the amount from his Registered Retirement Savings Plan (RRSP). Darryl worries that transferring the money will affect his RRSP contribution room.

 

The good news is that Darryl’s FHSA contribution will not affect his RRSP contribution room. This means he can contribute $8,000 directly to his FHSA. 

 

To learn more, visit www.equitable.ca/first-home-savings-account

 

Those interested and eligible for a FHSA should contact their advisors. If you do not have a advisor and would like to speak to one, call us at 1.800.668.4095 and our customer service team would be pleased to have an advisor in your area contact you.