Group RRSP & Pension information
Implementing a Group RRSP or Pension Plan is an excellent way to enrich your current benefits offering, allowing you to attract and retain key people. There is a wide array of options available to you within the retirement savings market.
Voluntary plans allow those employees who are interested to participate in the program with convenient features such as payroll deduction. Alternatively, a contributory plan could be established where the company is providing a matching element.
You may also choose from the flexibility of a Group RRSP or a more defined option using traditional Pension products. Registered Pension Products (RPP's) may include a Deferred Profit Sharing Plan (DPSP), a Defined Benefit Plan (DBP) or a Defined Contribution Plan (DCP).
The various options available are treated differently by Revenue Canada. Speak with an advisor today to help you understand your options and select a program that suits your needs and the needs of your employees.