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At the end of last year, David had unused RRSP contribution room of $2,000. Last year, he had earned income of $90,000 and he was a member of his employer's defined benefit pension plan, which will provide a benefit of 1.5% of average earnings for each year of service. This year, David made an additional contribution to the pension plan to purchase past service credits and this resulted in a past service pension adjustment of $2,700. If the RRSP dollar limit was $26,010 for last year and is $26,230 for this year, how much can David contribute to his RRSP for the current year?
Sagot :
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