My employer gives a matching contribution for my RRSP.
So let us say if I contribute $5000, the employer contributes $2000 (free money.)
Does this $2000 contributed by my employer also eat up my RRSP contribution room?
i.e if I had only $6000 contribution room, would I be over the limit?
So on the excess contribution ($5000 + $2000 - $6000) = $1000, how might I be penalized?