Why should you consider a Group RRSP for your organization?

In Canada, Group RRSPs are becoming a popular investment alternative to defined benefit and defined contribution retirement savings plans. For employers, a Group RRSP offers the following benefits:

Attract and retain employees. A Group RRSP is a valuable addition to an employee benefits program. It gives you, the employer, an opportunity to supplement an existing pension plan or offer an alternative to the traditional pension plan. Offering a Group RRSP can help you to attract and retain employees by making it easier for your employees to save for their retirement.

Flexibility. One of the more attractive features of a Group RRSP is the flexibility it offers the employer. You determine the contribution formula – the amount an employee and an employer invest in the plan for each payroll period – that best suits your organization. With fewer administration and legislation requirements than a registered pension plan, a Group RRSP allows you the ability to offer your employees a retirement savings plan without the structure and control associated with pension plans.

Tax deductibility. Contributions that your firm makes into a Group RRSP, on behalf of your employees, are a tax-deductible expense.

Affordable. There are no annual administration fees for this Group RRSP. In addition, the employer is not required to fund the plan, unlike pension plans governed by pension legislation.

Administer with ease. With less administration requirements than a pension plan, a Group RRSP means more of your time goes towards what you do best. Once you have completed your initial set-up, the majority of the administration is completed for you.

Convenience. From making contributions to accessing toll-free customer support and providing enrolment material, the services offered through the employer-sponsored Group RRSP provide you with all the information and tools you need to quickly and easily administer your plan.

Contact Us

For all general inquiries, please contact us at

1.888.707.2911

or leave a message below.

If you would like to contact a particular office or individual, please click here.

Thankyou.

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Contact Us

For all general inquiries,
please contact us at

1.888.707.2911

custserv@barfinancial.com

If you would like to
contact a particular office
or individual, please
click here.

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