CIFC Exam Dumps | Sujay contributes 3% of his $60,000 salary to his employer's defined contribution pension plan. His employer

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Question 29/47

Sujay contributes 3% of his $60,000 salary to his employer's defined contribution pension plan. His employer contributes the same amount to the plan. How will this affect his registered retirement savings plan (RRSP) contribution room for the year?

A. It will reduce Suiay's contribution room by

B. It will reduce Suiay's contribution room by $3,600.

C. It will have no effect. RRSP contribution room is based on earned income only.

D. It will reduce Suiay's contribution room by 51,800.

Question 29/47

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