Which group retirement plan is right for your group?
We offer two types of group plans that allow your employees to choose their own investment mix from our wide selection of expertly managed funds.
Easy to set up and administer, a Group Registered Retirement Savings Plan is a simple way to help employees save for their retirement with minimal cost on the plan sponsor's part. The plans are not subject to provincial pension legislation, so regulatory reporting is minimized and we complete all filings for the Canada Revenue Agency. Employer contributions are tax deductible and can be changed or adjusted at the discretion of the plan sponsor.
A Group TFSA is a savings plan that is commonly used in combination with a group retirement savings plan to assist employees with their savings goals. They are also available as a standalone plan. Contributions are not tax-deductible and the income earned is tax-free. The annual contribution limit is indexed to inflation and unused contribution room can be carried forward indefinitely for greater growth potential. Withdrawals from a Group TFSA does not affect eligibility for federal plans (Old Age Security and Guaranteed Income Supplement). The plans are not subject to provincial pension legislation, so regulatory reporting is minimized and we complete all filings for the Canada Revenue Agency.
Group Pension Plans
We offer Defined Contribution Registered Pension Plans (RPPs), where plan members receive the benefit of a secure retirement savings program, while the plan sponsors control costs through fixed, tax-deductible contributions. This plan is also known as a money purchase pension plan. It requires some government compliance and reporting.
Contact our group sales representative to find out more about our group RRSP, TFSA or RPP plans.