FAQ: What is Included in Deduction Expenses in the Projections Section?

These are payroll deductions that are not taxes, or CPP/EI contributions, or pension contributions. They are the deductions entered in Discovery > Income for Insurance Deductions and Other Deductions.

In Planning > Projections the platform will re-calculate Income Taxes, and CPP/EI contributions, and pension contributions (unless is a DB pension) but it can’t calculate specific deductions like Insurance Deductions or Other Deductions so it takes the values entered in Discovery > Income and projects them forward so that it can accurately calculate net income each year prior to retirement.