WHAT IS GROUP REGISTERED RETIREMENT

What is Group Registered Retirement Saving Plan?

Group registered Retirement Savings Plans are intended to encourage company employees to save for their retirement by allowing them to defer paying income tax on their RRSP savings until the money is withdrawn. Registered Retirement Savings Plans can help employers recruit and retain the best employees and stay competitive in the industry. It is inexpensive benefit to offer to employees. Employee’s contributions can be deducted from their taxable income, reducing their income tax payable. Income earned with in an RRSP is not taxed until the money is withdrawn from RRSP account. RRSP savings can be used to purchase a home. RRSP also can be used to attain Post-secondary education through the Lifelong Learning Plan. Group RRSP must be registered with CRA.

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