Group Registered Retirement Savings Plans
Help your plan members save for retirement with a simple, flexible plan.
A Group Registered Retirement Savings Plan (RRSP) is a company-sponsored plan that the employer offers to all eligible employees. Each employee has their own RRSP account and can choose how to invest their money.
All contributions made to an RRSP belong to plan members. They are automatically deducted from the plan member’s salary by the employer and are spread over the year to take advantage of market fluctuations. These contributions are tax deductible and investment earnings are tax-sheltered until withdrawal. Employer contributions are subject to payroll tax.
Also, the amounts contributed to an RRSP can be changed at any time, there is no minimum contribution required for investment funds and additional contributions can be made on top of regular contributions.
To learn more about Group Registered Retirement Savings Plans, we invite you to reach out to us.