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Group registered retirement savings plan (RRSP)

What is a group RRSP?

A group RRSP is a collection of individual RRSPs offered to a group of employees. Administration is centralized and management fees are low. The plan is combined with a LIRA or locked-in RRSP for any locked-in funds transferred in from a previous employer's plan.

Advantages

For employers

  • Straightforward, low-cost administration
  • No need to calculate and report pension adjustments
  • Employees familiar with plan

For employees

  • Gains grow tax-free
  • Tax-deductible contributions
  • Easy to make regular contributions

Contributions

Employer

  • Can be made to your employees' RRSP. No minimum contribution amount, and can be changed at any time
  • Can be deducted from company's taxable income
  • Count as salary, which means they're a taxable benefit for employees

Employee

  • Employees can set up regular contributions and make spousal contributions
  • All contributions are eligible for Home Buyers' Plan (HBP) and Lifelong Learning Plan (LLP)

Details

Administration

  • Plan needs to be registered with Canada Revenue Agency
  • No regulatory fees
  • Subject to payroll taxes

Investments

  • Employees responsible for their investment choices
  • Investment policy not required

Contact us

Setting up a plan

Montreal area:
1-800-363-3072 Phone number to set up a group retirement savings plan for the Montreal area. This link opens your phone app.

Quebec City area:
1-877-828-7800 Phone number to set up a group retirement savings plan for the Quebec City area. This link opens your phone app.

Help with an existing plan

Monday to Friday: 8 AM to 8 PM

1-888-510-4762 Phone number for customer service for group retirement savings. This link opens your phone app.

Discover other group savings plans

Group TFSA

A group tax-free savings account (TFSA) is a type of savings plan in which contributions aren't tax-deductible, but the income they generate is tax-free.
Learn more about Group TFSAs.

DPSP

A deferred profit sharing plan (DPSP) allows you to share a portion of your company's profits with your employees.
Learn more about DPSP
Desjardins Financial Security Life Assurance Company acts as an issuer, service provider or administrator, as the case may be, of the group retirement savings plans.
This text is for information purposes only. Refer to the policy for all conditions, exclusions and restrictions.