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Group Insurance Benefits Nova Scotia(1)
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Group RRSP Nova Scotia

Financial Planning for the future.

What is a Group RRSP?

A group Registered Retirement Savings Plan (GRRSP) is a collection of individual RRSP’s setup by the employer while also being administered by the employer on a group basis typically through an insurance provider (Sun Life, Manulife etc.).  Contributions are made through payroll deduction with before tax dollars, the key component to a group RRSP is the matching component.  In most structures the employer will match a percentage of the employee’s salary to a maximum amount.  For example, an employer may match up to 5% of your salary, if you were making $80,000 and contributed the maximum amount to your group RRSP you would contribute $4,000 and your employer would contribute $4,000, thus creating a 100% rate of return before the money starts earning interest. 

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Advantages for Employee’s

  1. 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.
  2. 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.
  3. 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

  1. Employee Retention.
  2. Attracting the best talent.
  3. Financial security for employees and their families.
  4. 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.


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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