Group RRSP Benefit Employee/Employer

Did you know that group RRSPs can benefit you, the employer, as well as your employees?

Over the past few years, group RRSPs have become a valuable addition to the benefits packages of many small and medium-size businesses.

With more and more Canadians taking retirement saving into their own hands, group RRSPs can add significant value to a benefits package. Unlike a traditional pension plan, a group RRSP offers employers the flexibility of controlling their level of contribution.

Employer contributions can be deducted as salary expenses and the administration can be done by most accounting packages.

The convenience of a group RRSP is often considered one of its biggest selling points. Employees can pay themselves first with their RRSP contributions deducted right from their pay. Employees can also have their payroll tax adjusted and receive their income tax deduction right away.

If you would like to know more about group RRSPs or would like to discuss setting up a group RRSP for your business, please call us at  1-800-446-5745.