Assume we are in the year 2010. In 2008, John started working for Tictac Inc.This year the company decided to offer all its employees a defined benefit plan.The DB plan offers a pension of 1.4% of career -average earning for each year of service. John has always maximized his RRSP contributions each year. The company paid him a salary of $60,000 in 2008, $65,000 in 2009 and this year it is$70,000. All the employees who are plan members are given the opportunity to purchase 2 years of past service which is exempt by CRA. 

What is John's RRSP room for the year 2011?

Answer rating: 100% (QA)

To calculate Johns RRSP contribution room for the year 2011 we need to consider his earned income fo... View the full answer