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A group RRSP is an employer sponsored savings program which allows employees to join the sponsored program.

Successful group RRSP’s have corporate contributions into the employees investment account. Employees control the investment decision from the available choices and benefit from dollar cost averaging contributions, tax sheltered growth and the tax deduction of the contribution. Money accumulates inside the RRSP tax sheltered until it is turned into a income or withdrawn. Group RRSP can be set up with very flexible contribution terms.

Group RRSP Frequently Asked Questions

A Group RRSP is typically an employer sponsored RRSP program. The employer contracts with a service provider and usually also contributes into the employees account a percentage of earnings or fixed amount.

The employee decides how the funds are invested within the context of the available choices.

Your retirement income will be determined by your decisions, how much you have and what decisions you make at retirement. Whether it is a life annuity of life income fund. In general the more you accumulate the more income you will have.

Yes, your money vests immediately and can be withdrawn in cash and or transferred to another RRSP.

But be careful because you can withdraw the money generally so can your creditors in the event of bankruptcy


Yes the company contribution is taxable income but it counts as a contribution to an rrsp and then becomes a deduction from income.

Yes, employee group RRSP contributions count as an RRSP contribution and are deductible from your taxable income.

Paying yourself first is a time tested financial planning element that far to many are either unwilling to do or unable to do for themselves.  Group RRSP’s need not be expensive and can be established for as low as 1 % of salary.

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