A more cost-effective way to save money for your retirement

A GRSP is a Retirement Savings Plan (RSP) that is administered by your employer on your (and your coworkers’) behalf. With a GRSP, you can contribute directly from your pay check using pre-tax dollars. GRSPs are similar to RRSPs in that they utilize your RRSP contribution limits and have the same tax advantages.

You can choose from a range of segregated funds, mutual funds, target-dated funds, as well as term investments, etc. As an employer who competes with many companies for talented employees, you try to offer your employees an attractive benefits package. A group retirement program has become an essential part of such a package.

Advantages– Group RRSP

  • The great advantage of a Group RRSP is that you invest the money before you get your hands on it (before you spend it)
  • The fees are lower for most of the Group Investments Fees
  • Some employers match your contribution.

Disadvantages – Group RRSP

  • Not much of an investment option, with very limited funds usually available
  • You don’t get much advice on asset allocation or managing your investment account etc.
  • If not managed properly, you may lose a significant amount of money.

Did You Know

50% - The percentage of working Canadians who are worried that they will not have enough money to live comfortably during retirement.

45% - The percentage who would feel more confident if money was deducted automatically from their paycheck.

89% - The percentage of Canadians who think workplace savings plans should be accessible to all Canadians.

Let’s talk about your Group RSPs with LifePlan Investments.

  • We provide Free Lunch and Learn seminars for saving and investments
  • Individual consulting with employees when needed
  • Your savings are pooled with the savings of others in the plan, which makes GRSPs a cost-effective way to save for your retirement compared to saving on your own
  • Since contributions are deducted automatically, our GRSP offers a convenient and disciplined way to save for retirement and your investments can benefit from compounding returns over time
  • We will clearly explain the simple administration process
  • We will provide your employees with information packages, as well as, investment selection and retirement calculation tools
  • We will work with you to set up the plan and facilitate the completion of the paperwork

Contact our Qualified LifePlan Consultant or Financial Planner Today.

Our qualified consultants will take the time to review your current investment account and see if your investments holding have the right asset allocation and are managed according to your risk tolerance.