A group retirement plan (or group RRSP) is a retirement savings instrument for a group of employees, unionized workers, or members of an association, which is issued by a financial institution and approved by the CRA.
Gains realized within the plan accumulate on a tax-free basis
Contributions to a group RRSP are tax-deductible
Advantageous group rates, as the fees for investing contributions are generally lower than those for an individual RRSP
Greater total returns because of lower fees
Tax is deductible at the source, which increases the employees' net income
Possibility of regular contributions, which brings about systematic savings benefits
There are several types of retirement plans, and each one has specific features that differentiates it. Our experts are here to guide you in choosing the right retirement plan and the right administrator.
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The Individual Pension Plan (IPP) is a defined benefit pension plan whose retirement income corresponds to 2% of the average of the 3 highest income years for each recognized year of service.
The DPSP is an approved agreement according to CRA (Canada Revenue Agency) requirements pursuant to which an employer can share the profits of his business with all his employees or group of employees.
Simplify implementation in accordance with legal obligations set out in Act 39.
Taxation
Living Benefits
Mortgage brokerage
Life Insurance