Money Purchase Limit definition

Money Purchase Limit means the amount defined as such for a year in Paragraph 147.1(1) of the Income Tax Act, as amended from time to time.

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Money Purchase Limit means, in respect of a calendar year, the amount determined under subsection 147.1(1) of the Income Tax Act (Canada), as amended from time to time.

Money Purchase Limit means, in respect of a Member, the lesser of:

Examples of Money Purchase Limit in a sentence

During the Term, the Corporation will match the Executive’s Registered Retirement Savings Plan (“RRSP”) contributions, up to the applicable annual Canada Revenue Agency RRSP Money Purchase Limit (i.e., CAD$29,210 for 2022) for the fiscal year, with such matching amount not to exceed six percent (6%) of Base Salary (pro rated to reflect service in the fiscal year).
During the Term, the Corporation will match the Executive’s Registered Retirement Savings Plan (“RRSP”) contributions, up to the applicable annual Canada Revenue Agency RRSP Money Purchase Limit (i.e., CAD$31,560 for 2024) for the financial year, with such matching amount not to exceed six percent (6%) of Base Salary (pro rated to reflect service in the financial year).
During the Term, the Corporation will match the Executive’s Registered Retirement Savings Plan (“RRSP”) contributions, up to the applicable annual Canada Revenue Agency RRSP Money Purchase Limit (i.e., CAD$30,780 for 2023) for the fiscal year, with such matching amount not to exceed six percent (6%) of Base Salary (pro rated to reflect service in the fiscal year).
The current Money Purchase Limit is the lesser of of pensionable earnings and The Employer will cease contributing on your behalf once you are no longer an active member of the plan.
Total pension contributions must not exceed Revenue Canada's "Money Purchase Limit" for the year in which they are made.

More Definitions of Money Purchase Limit

Money Purchase Limit means the amount prescribed in Section 147.1 of the Income Tax Act in respect of a particular calendar year.

Money Purchase Limit means, in respect of a calendar year, the amount determined under subsection 147.1(1) of the Income Tax Act (Canada).