1. Last year, Dieter earned a salary of $120,000. He was also a member of his employer’s RPP and incurred a PA of $23,000. If the maximum RRSP contribution limit for this year is $26,230, how much new contribution room does Dieter accumulate?
2. Gerda belongs to a defined-benefit pension plan that will provide her with 2% of final average earnings for each year of service. Her earnings are $150,000. If the dollar limit for the maximum yearly pension is $2,944.44, what is Gerda’s PA to the nearest dollar?
3. Petra earns $85,000. She belongs to a defined contribution pension plan where the employer and employee both contribute 5% of the employee’s salary.What is her PA?