In housing co-ops rent is called “housing charges.” There are many factors for establishing how much any given co-op member will be required to pay in housing charges. One factor is a calculation done as a percentage on the member’s income. Using a 30% housing charge calculation, I created a video to show how current practices in calculating housing charges penalize members who choose to buy registered retirement savings plans (RRSPs). Members are charged a second housing charge when they cash the RRSPs.
I advocate for improving the fairness of how RRSPs effect housing charge calculations. This is important to the support the Aging in Place movement.
To access the video in full screen, try double clicking on the video or right click for your options. The pace is fast, so I encourage pausing (try pressing the space bar.)