A Group Registered Savings Plan (Group RSP) can provide retirement savings solutions that can build employee loyalty, at no added administration cost to the employer.
Employees that participate in a Group RSP have an easy way to save for their retirement through payroll contributions of as little as $30 a month. You can enjoy an immediate tax benefit since your RSP contributions can be made before any tax is deducted from your pay. The tax-deductible contributions accumulate in a tax-sheltered fund. The amounts invested in your Group RSP are not locked in, which means they can be withdrawn at any time. In addition, employees make their own investment decisions.
You can also capitalize on the purchasing power of a group and have access to the group’s financial professional to build a personalized investment strategy.