The Importance of a MyCRA and MSCA Accounts

by | Mar 8, 2023 | YCS

As we navigate through these unprecedented times, we want to remind you of the importance of having a MyCRA account.

A MyCRA account allows you to securely access your personal tax information, including your RRSP contribution room and tax assessments. With the possibility of a pension transition coming, having quick access to your RRSP contribution room and other financial information is crucial.

Setting up a MyCRA account is quick and easy. Simply visit the Canada Revenue Agency website and follow the instructions to create an account. Once you’re registered, you’ll be able to access important information regarding your taxes, benefits, and credits.

In addition to a MyCRA account, we also recommend setting up a My Service Canada Account (MSCA). An MSCA account provides access to your Canada Pension Plan (CPP) information, including your statement of contributions and estimated benefits at retirement. By reviewing your CPP information regularly, you can ensure that your retirement income plan is on track.

Source: E-services for individuals,

In conclusion, having a MyCRA and MSCA account is essential for keeping track of your financial information and ensuring that you’re prepared for retirement. If you haven’t already, we encourage you to sign up for these accounts today.

Dave Cooper, CFP®, CIM®
Senior Investment Advisor Portfolio Manager
[email protected]

Tyler Cockbain, BA, CFP®, CIM®
Senior Investment Advisor Portfolio Manager
[email protected]


Justin Nekechuk, B. Ed
Associate Investment Advisor
[email protected]

 Tower Wealth Advisory
212, 1524 91 St. SW, Edmonton, Alberta T6X 1M5
780.484.5777 ext. 1 or 891
Email: [email protected]

The information contained herein has been provided for information purposes only. Graphs, charts and other numbers are used for illustrative purposes only and do not reflect future values or future performance of any investment. The information has been provided by J. Hirasawa & Associates and is drawn from sources believed to be reliable.

The information does not provide financial, legal, tax or investment advice. Particular investment, tax, or trading strategies should be evaluated relative to each individual’s objectives and risk tolerance. This does not constitute a recommendation or solicitation to buy or sell securities of any kind. Market conditions may change which may impact the information contained in this document. Wellington-Altus Private Wealth Inc. (WAPW) and the authors do not guarantee the accuracy or completeness of the information contained herein, nor does WAPW, nor the authors, assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. Before acting on any of the above, please contact me for individual financial advice based on your personal circumstances. WAPW is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.