QUESTION 20 1 p Which of the following statements with respect to RRSP terminations is NOT correct? O All RRSPs must be terminated in the year an individual turns 71 years old. If RRSP funds are used to purchase a life annuity, only the annuity payments would be subject to tax. If an individual has terminated his RRSP because he has turned 71, he can no longer make RRSP contributions, even if he has Earned Income. o A lump sum withdrawal from an RRSP is not eligible for pension income splitting. QUESTION 21 1 point Which of the following statements about a RPP is NOT correct? O An RPP from a previous employer may be transferred into the new employer's plan. o Contributions can be made only by employers. Pension adjustments reflect the benefits earned under both money purchase and defined benefit O RPPs. Contributions made by an employer to an unregistered pension plan are not deductible