Low cost – Unlike many bank GIC’s or mutual funds, you
only need a minimum contribution to join our Group RRSP. The
more you can save the longer you can do so, the bigger your
retirement income willl be.
Save Taxes – All RRSP contributions reduce the income
tax you pay. Investment earnings grow tax-free until you
Immediate Tax Relief – An $80 contribution only costs
you $48 off your next pay (assuming a 40% tax bracket) because
you get your tax break when each contribution is made.
Payroll Deduction – Your contribution is deducted from
your pay cheque before you have a chance to spend it somewhere
else. This can be a painless way to save.
No Front or Back End Loads – There are no fees charged
for moving assets from one investment manager to another.
There are no hidden administration costs – the investment
management fees you pay are contractually agreed upon.
Access to Competitive Investment Options – The program
offers market-related funds managed by some of the industry’s
top investment managers. The built-in fund management fees are
usually much lower than what you would pay yourself.
Contribute on Behalf of your Spouse – If you and your
spouse’s income levels differ significantly, the higher earner
makes withdrawals from the Spousal RRSP at a lower tax rate.
Regular Updates – Through member statements, reference
materials, and information seminars, you can receive regular
updates to help you plan for retirement.
Our Retirement Plans are designed to allow flexibility for
each employer. Each plan member can contribute up to the RRSP
maximum limits of $22,000. Company contributions are not
required but they are encouraged, as contributions from the
employer can be an important part of your total compensation
strategy to attract and retain employees.