Group Registered Retirement Savings Plan (RRSP)

A Group Registered Retirement Savings Plan (RRSP) is a collection of centrally administered RRSPs that offer members attractive group rates. The member makes tax-deductible contributions that accumulate in a tax-sheltered fund. The amounts invested in an RRSP are not locked in, which means they can be withdrawn at any time. In addition, members make their own investment decisions. Contributions are deducted directly from member salaries, thereby providing an immediate tax deduction and a higher long-term return, since every contribution is invested the moment it is received.

The advantages of a Group Registered Retirement Savings Plan (RRSP):

  • Employers can match employee contributions based on an amount or a percentage if they choose.
  • Members decide for themselves how much to contribute. There is no minimum investment requirement or limit on interfund transfers.
  • Lump sum contributions and transfers from other plans, including locked-in funds, are permitted.
  • Members can contribute to RRSPs in their spouses' names.
  • Members benefit from a wide variety of Investment Options and fund manager investment strategies.
  • Members have access to a complete range of Services to assist them in developing a retirement plan and monitoring its progress.

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