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CRA releases information on Permitted Corrective Contributions and Pension Adjustment Corrections for money purchase RPPs

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July 27, 2023

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The Canada Revenue Agency (CRA) has released information about Permitted Corrective Contributions (PCC) and Pension Adjustment Corrections (PAC) for administrators overseeing money purchase (MP) registered pension plans (RPPs). 

PCCs provide more flexibility to plan administrators of MP RPPs to correct for under contributions. A PAC will restore a member’s RRSP deduction limit where over-contributions are returned to the contributor.

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