Choose province (Canada) or state (United States), and language

Online services – AccèsD, AccèsD Affaires, online brokerage, full service brokerage.

Log on to Desjardins online services.

You are here: Home > Business > Group plans > Group retirement savings solutions > Group tax-free savings account (TFSA)

Your browser is configured to not accept cookies. Some features of the site are not available or will not work correctly without cookies. Also, some information presented might not apply to your situation.
See How to enable cookies

Your browser is not supported by our website. Some features of the site are not available or will not work correctly.
See the procedure to update your browser.

Microsoft Edge causes problems on AccèsD. To fix the issue, please install the most recent Windows update.

Group tax-free savings account (TFSA)

An essential financial tool!

  • Available as a stand-alone plan or as an add-on to an existing plan
  • Unused contribution room can be carried forward indefinitely
  • Withdrawals can be made at any time
  • Amounts withdrawn generate new contribution room
  • No effect on eligibility for federal plans


Here are some of the features of our Group TFSAs:

  • Available since January 2009
  • Eligibility:
    • Canadian residents aged 18 and over
    • No age limit for making contributions
  • Contributions:
    • Not tax-deductible
    • The maximal annual contribution is cumulative:
      • 2009 to 2012: $5,000
      • 2013 and 2014: $5,500
      • 2015 : $10,000
      • 2016 : $5,500
    • Over-contribution penalty of 1% per month
    • Annual unused contribution room, along with withdrawals from your TFSA during previous years, is cumulative. Learn more about your TFSA contribution rights at the Canada Revenue Agency site - This link will open in a new window..
  • Withdrawals:
    • Tax-free, at any time, for any reason
    • Not added to your income
    • Generates contribution room of an equal amount the following year
  • No effect on other benefit programs (OAS, GIS)
  • Tax-free investment income
  • For all types of businesses, unions or associations

Employers benefit from the TFSA because it:

  • Is an excellent potential add-on to a retirement savings plan
  • Supplements employee benefits
  • Is an excellent way to help employees reach their financial objectives
  • Is easy to manage
  • Helps ensure motivated and loyal employees

Employees benefit from the TFSA because it:

  • Offers greater flexibility with respect to managing short- and mid-term savings
  • Helps protect and preserve your savings for retirement
  • Offers contributions that aren't locked-in
  • Is an excellent way to increase your retirement savings: The contribution room provided by TFSAs is in addition to the contribution room allowed under your registered retirement savings plans
  • Allows your contributions to be deducted at the source or made in lump-sum payments
  • Lets you build tax-free savings
  • Allows your spouse to enrol as well
  • Offers competitive fees, on a declining scale
  • Doesn't have any tax impact on estates
  • Can be used as collateral on a loan
  • Isn't considered part of your family assets