Group registered retirement savings plan

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


For employersFor employees
  • Straightforward, low-cost administration
  • No need to calculate and report pension adjustments
  • Employees familiar with plan
  • Gains grow tax-free
  • Tax-deductible contributions
  • Easy to make regular contributions


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


  • Plan needs to be registered with Canada Revenue Agency
  • No regulatory fees
  • Subject to payroll taxes
  • Employees responsible for their investment choices
  • Investment policy not required

This text is for information purposes only. Refer to the policy for all conditions, exclusions and restrictions.