Group RRSPs

Group RRSPs are a powerful retirement savings tool that provides employees with the ability to save money in order to supplement their retirement income. Group RRSPs are established by employers and are funded through regular payroll deductions. Contributions are made pre-tax which can help reduce overall taxable income and increase cash flow with every paycheque. Group RRSP contributions result in tax-deferred growth until withdrawal, meaning that money grows without having to pay taxes on the investment gains until it is withdrawn. Group RRSPs also provide an added benefit in that employers often match or partially match employee contributions, one of the best returns on investment available!

Group RRSPs can provide a range of benefits to employers, which makes the plan an attractive perk for businesses. Group RRSPs allow employers to set up retirement accounts and make contributions to those accounts on behalf of their employees, offering an effective and efficient way to cut down on costs for both parties. Group RRSPs provide stability for business owners and peace of mind for their employees. They also increase employee engagement and productivity by providing a subsidized incentive that can be tailored according to the company’s budget. Group RRSPs help build relationships between employer and employee that can lead to increased loyalty and a higher rate of job retention in the long term, making them a great investment for any business.