Analysis on the Main Characteristics of the Competitive Complementarity of the Third Pillar Pension in Canada
As the third pillar individual pension system in Canada,RRSP and TFSA have obvious differences in contribution and withdrawal,tax model and so on.The participation conditions in TFSA are less restrictive than RRSPS.TFSA withdrawals are tax-free and do not affect the eligibility for government income test benefits.The tax model of TFSA gives individuals greater lifetime arbitrage opportunities.RRSP has a variety of ways in payment and participation,and has a more flexible transfer mechanism between accounts.The third pillar pension in Canada not only has the attribute of pension security,but also has the attribute of finance.RRSP and TFSA compete with each other and complement each other.In recent years,they have continued to grow substantially,alleviating the expenditure pressure of the first pillar public pension,relieving the financial burden of the government,and becoming a necessary condition for the elderly to obtain a favorable retirement life.As an important part of the multi-pillar pension insurance system,they are conducive to realizing the financial sustainability and fund adequacy of the pension insurance system.
万方数据
维普
