Canadian Western Trust

Group RRSP

Adding to the total compensation for your employees

A Group RRSP is a group registered retirement savings plan that is set up and administered by a company or business for its employees. It consists of a collection of RRSPs held individually by employees, giving them the opportunity to invest in a tax-deferred financial solution for their retirement.

A Group RRSP is a collection of individual RRSPs for a group of people, often employees in a company. It is great way to add value to the total compensation package for employees, differentiating the employer from the competition.

Participation in a Group RRSP usually depends on factors such as employment status and length of service. Formal provisions are in place to explain the handling of certain key issues such as the amount of your organization's contributions, choice of investment options and withdrawal limits.

A Group RRSP can be a key component to your company's total compensation plan by:

  • Providing greater financial security for your employees and their families
  • Giving you a competitive edge in the recruitment of new employees
  • Retaining and engaging your employees

For the employee, it is an easy way to save for retirement with regular deductions from their pay to grow their retirement savings even faster.

In partnership with an independent record-keeper, we provide these Group RRSP services:

  • Overall safekeeping of plan assets
  • Accepting contributions
  • Processing dividends, interest payments, etc.
  • Processing withdrawals and plan transfers or closures
  • Issuing applicable tax receipts and other Canada Revenue Agency (CRA) reporting

Fees for Group RRSPs are determined in accordance with the responsibilities outlined in the specific plan agreements.

Contact us for more information.

Questions?

Looking for more information about our services for             Group RRSPs?