Tax-Free Savings Accounts were designed to help lower-income Canadians put money away for retirement. But a decade into the program, new research shows that TFSAs are primarily benefitting higher-income savers. A saver’s credit and other tax changes could be the keys to fixing this flaw, writes Richard Shillington in a widely read study for the IRPP.

Richard Shillington is a statistician specializing in poverty measurement, tax policy and low-income supports. He joins us on the podcast to discuss his study and its implications for low-income savers.

His study is available here: https://irpp.org/research-studies/are-low-income-savers-still-in-the-lurch-tfsas-at-10-years/

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