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Fabio is 62 years old. Following the termination of his employment with the company for whom he had worked for 26 years, he received a
Fabio is 62 years old. Following the termination of his employment with the company for whom he had worked for 26 years, he received a relatively small termination benefit. As a result, he incurred a pension adjustment reversal (PAR) of $38,000. What is the relevance of the PAR to Fabio? a) Fabio's RRSP contribution room will be increased the PAR amount. b) Fabio's RRSP contribution room will be reduced by the PAR amount. c) Fabio's RPP benefits will be increased by the PAR amount. d) Fabio's RPP benefits will reduced by the PAR amount.
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