Group RRSP Nova Scotia
Financial Planning for the future.
What is a Group RRSP?
A Group Registered Retirement Plan (GRSP) is a type of employer-sponsored retirement savings plan that allows employees to contribute a percentage of their income to a personal account, which is invested in various products according to their preferences and risk tolerance. The employer may also contribute to the employee’s account, up to a certain limit. The contributions and the investment returns are tax-deferred until the employee withdraws the money from the account, usually after retirement. A GRSP can help employees save for their retirement goals and benefit from the employer’s support.
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Advantages for Employee’s
- Tax Break – RRSP contributions reduce the income tax you pay and contributing through payroll deduction your contributions are pre-tax and tax savings are instant.
- Forced Savings – group RRSP are a great way to consistently save each month for retirement, taking the guess work out of when and how much I should contribute.
- Employer Matching – If the matching component is offered by your employer this is a no brainer to invest. You are doubling your money immediately before the money is being invested.
Advantages for Employer’s
- Employee Retention.
- Attracting the best talent.
- Financial security for employees and their families.
- No setup fee’s
What funds are offered?
Retirement date funds – Excellent option for employee’s who prefer not to regularly review their investments. Target Date Funds are a series of pre determined maturity dates matching when an employee wants to retire.
Asset Allocation Funds – These fund offerings are designed for employee’s who want to manage a portion of their portfolio based on there risk tolerance.
Build your own Portfolio – A variety of market based funds available for more experienced investors.
GROUP RRSP HALIFAX FAQ
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Proudly Serving all areas of NS and Atlantic Canada
Amherst / Antigonish / Bedford / Bridgewater / Chester / Coleharbor / Dartmouth / Digby / East Hants / Halifax / Liverpool / New Glasgow / New Minas / Port Hawkesbury / Sackville / Sydney / Truro / West Hants / Yarmouth