a collection of individual RRSPs taken on behalf of workers and sponsored by the employer
a regular deposit savings plan that allows employees of a company to build capital for retirement though regular salary deductions
a valuable benefit for you and your employees
A group plan established by the employer, which enables the employees to open RRSP accounts. An employer may or may not choose to contribute to this type of plan.
A Group Registered Retirement Savings Plan is a plan set up and administered by the employer or union. Each participating employee has an individual plan under the umbrella of the group. Group RRSP contributions are made through a payroll deduction. With a Group RRSP taxes are not deducted on the contributions made to the plan. Therefore the plan participants get a reduction in taxes with each contribution rather than the annual tax refund associated with an individual RRSP.