ELIGIBILITY OF GROUP RRSP

Eligibility of Group RRSP Account

Employer can choose to make only specific employee groups eligible for the group registered retirement savings plan. Most companies want 10000 dollars yearly contributions for group RRSP. Some companies offers 10000 minimum in the plan.Both plan members and employer can contribute in to plan. Contributions can be made until the member turns age 71. The member may elect to contribute to a

Spousal RRSP within prescribed limits if plan allow to do so. The employee is immediately entitled to all contributions. There are no locked-in provisions. Employee can withdraw funds any time he wants. Withdrawal are taxed as regular income.

Sahib Insurance & Investments Advisors will help and guide you thru all the process.