Group savings plans are one of the best ways to save for your retirement. Registered plans, such as Group RRSPs and pension plans, enable you to save consistent amounts over a long period of time, a technique known as dollar-cost averaging. Along with the same tax advantages as a personal RRSP, group retirement plans offer the following benefits:. If you are contributing to a registered plan by payroll deductions, you can arrange with your employer to have the contributions invested on a before-tax basis; the contribution amount will be deducted from your gross pay before tax is calculated. Payroll deduction also provides the benefits of dollar-cost-averaging. The sooner you start saving, and the more often you save, the better.
A simple, affordable and quick-to-set-up for federally regulated employers and self-employed individuals. A simplified Defined Contribution Pension Plan that is designed for small and medium-sized businesses. Helps plan members grow their savings, often with lower investment management fees than individual accounts. Group retirement savings plans and solutions. On this page. Savings Pension Custom. On this page Savings Pension Custom.
Group retirement plans provide one of the best tax-sheltering opportunities available and can be a significant benefit to employees. With the long term viability of government sponsored pension plans in question, group retirement plans together with individual RRSP plans play a major role for most Canadians in saving for their retirement. From the viewpoint of the plan sponsor, group retirement plans can play a very significant role in attracting new employees and increasing employee retention. There are many options available when putting together a group retirement plan.
Open with Edge. Employee Benefits. Group Retirement Plan. Progressive organizations need to provide a competitive set of Employee Benefits.